Borrow Well

When we use credit well—borrowing money and paying it back on time—we can get a higher credit score.

All Money Topics

When You Use Credit Well and Responsibly

You can earn a higher credit score.
Adults with higher credit scores are more likely to get more
financial services at cheaper rates over time.
You develop peace of mind.

Five Types of Credit

Service credit (telephone, electricity, water)
Credit card (Visa®, MasterCard®, store credit cards)
Installment credit
Loans (student, mortgages, auto, personal)
Line of credit

Your Credit Score

Your credit score is a number that shows how well you use credit. The higher the score, the better.

What Makes Up a Credit Score

Your credit score consists of: your payment history, the amounts you owe, the length of credit, new credit accounts and types of credit in use.

Review Your Credit Report and Credit Score

Request a free copy of your credit report. Go online at www.AnnualCreditReport.com,
or call toll-free 1-877-322-8228.

Money Topics for Parents:

12 Key Financial Topics to Cover With Your Children and Teens.

Talk Well:

When we talk at home about money in
honest and caring ways, we're better prepared to help children and teens make better money choices.

Borrow Well:

Sometimes you need money when you don't have it. Maybe your child or teen wants to borrow money to buy a gadget at an electronics store. Find out the pros and cons of borrowing.

Budget Well:

Your child or teen may want to attend an arena concert. Understanding budgets helps us and our kids make better decisions about money.

Dream Well:

We get closer to our dreams for the future—and so do our kids—when we set financial goals. Attending a university is a dream for many of our children.

Earn Well:

Getting paid for our work gives us a sense of accomplishment. Working in a place like a restaurant can do the same for our children and teens.

Give Well:

When we give thoughtfully, we help causes and charities that the entire family cares about.

Invest Well:

When we invest well, we can increase our wealth over time. Investment traders and
other people with knowledge can help with
this process.

Live Well:

Whether our kids are at home or in the park, we’re aware of what they need to succeed with their money and all aspects of their lives.

Protect Well:

By protecting our kids and ourselves–even while driving a car–we can create a financial safety net during tough times.

Save Well:

When we save well, we are more likely to reach our financial goals like taking a vacation or buying a house. Having a bank account can help with saving.

Spend Well:

When we make thoughtful choices while at the mall about how we spend money, we become better consumers.

Move Forward Well:

Before and after high school, the more our kids know about money, the better decisions we can all make to move forward.