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In 2003 the provisions of the Fair and Accurate Credit Transactions Act (FACTA) brought about an amendment to the Fair Credit Reporting Act (FCRA.) This entitles you to one free credit report every 12 months from each of the credit bureaus; Equifax, TransUnion, and Experian. It was put in place to...

We all know that credit is important, and that having a solid credit history can grant you access to things you would not otherwise have. For example, if you want to purchase a vehicle or house in the future, chances are you will need to have established credit prior to doing so. But how do you get...

Now that you’re familiar with what credit is, how credit reports are created, and where credit scores come from, you might wonder: "Why do I need credit? Can’t I just pay cash for everything and forget all this?"

When you start managing your finances, you learn pretty quickly that credit is important – but exactly what is credit?