Get Smart With Credit

Credit is an essential part of the American economy. March is credit education month and we invite you to learn something new and learn how to get smart with credit.

To celebrate, American Heritage Insurance Group is working to educate our clients, families, work relationships, and everyone else when it comes to credit. Download and enjoy our guide to get smart with credit and begin to understand why you should really learn and teach others about credit.

Get Smart with Credit

What is credit?

In short, credit is borrowed money. People have a need to borrow money for various reasons. It can range from needing a new car, buying a house, needing a new couch, education, and various other reasons. In fact, you can essentially borrow money to pay for anything.

Credit is a risky business but those that participate in it, such as Discover, Chase, Local Banks and more, have found a successful way to rank someone so lenders can know if someone will pay them back. This is why everyone who has ever borrowed money or is just starting has a credit score.

VARIABLES AFFECTING YOUR SCORE

Credit Karma lists six different variables that will directly affect your credit score. These variables can have a high-impact, medium-impact or low-impact. See the chart below for details.

VARIABLES	IMPACT
Credit Card Usage	High
On-Time Payments	High
Negative Marks	High
Age of Credit	Medium
Credit Mix	Low
Hard Inquiries	Low

For more credit education information and resources, download our free CREDIT EDUCATION GUIDE!

Credit is not something to fear. Educate yourself during the month of March and make plans to improve your credit for the rest of 2016.

Happy Credit Education Month!

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Sources: Credit Karma – Credit 101