Buying something you need now with a promise to pay later. Credit is also a measure of financial wellness.

Money that is owed in return for a loan or a purchase.

Debt that does not increase your net worth or help you earn more money.

Debt that increases your net worth or how much money your worth and helps you earn more money. Ex student loans

How deserving you are of getting credit, according to companies that lend money

Anything valuable that you own, such as money, a car, or a home.

Anything valuable that you own, such as money, a car, or a home.

Anything that you owe money on, such as a loan or credit card balance.

Your current financial situation and whether you have the resources to pay back a new loan

A detailed history of how you have borrowed money in the past, including how you handled paying back loans and credit cards

Companies that maintain your credit history - Equifax, Experian, and Trans-Union

A number that shows how much of your overall credit you’re using (called utilization)

Restrict access to your credit report