Summer brings the heat. But one thing you don’t want it to bring is pressure on your finances. With vacations, summer camps, backyard BBQs, and so many other fun things to do, summer spending can add up quickly. But with a little planning, it doesn’t have to.

Many lenders want to see a strong credit history before approving you for a loan or credit card, but how do you build credit if no one will give you a chance? That’s where a credit builder loan can help.

In recent years, more Americans than ever have been documenting and reporting errors on their credit reports to the three main credit reporting agencies – Equifax, Experian, and TransUnion. After all, mistakes on your credit reports can potentially bring down your credit score, which can impact your ability to borrow money for a car or home with the most favorable terms. 

Many people assume their credit report contains every major financial and legal event in their lives. In reality, credit reports are much more limited than they used to be. Learn more about what public records are on your credit report.

Your credit report plays a major role in your financial life. Lenders use it to decide whether to approve you for a mortgage, auto loan, credit card, or personal loan. Landlords may review it when evaluating rental applications, and some employers may check it as part of the hiring process. The Fair Credit Reporting Act is there to help protect you and your credit.