Why is it so easy for most people, even young students, to
obtain credit? How does the issuer of a credit card, a student
loan, or a mortgage know how much risk it is taking in extending
credit to a particular borrower? If every lender had to conduct
a complete investigation of every borrower’s financial history,
getting a loan would be difficult and expensive. Fortunately,
credit reporting agencies act as middlemen. They receive
information from lenders about borrower accounts and consolidate
that information in the form of a credit score, which they make
available to potential new lenders. Your credit score represents
your overall creditworthiness. It affects your ability to obtain
credit and the interest rate you will have to pay for future
loans. Your credit score can be a valuable asset or a major
burden, so learn how to take care of it. This section will help
you answer the following questions: - Manage Your Finances -
Make Today's Decisions - Prepare for Your Future - Save Money At
Duke - Request a Wor