Where Credit is Due: How Building Credit Builds Financial Security

The first credit reporting agencies came into being in the 1950s and 1960s as a way of helping banks and retailers assess a consumer’s creditworthiness. Since that time, credit reports and credit scores have expanded in importance. A change in credit score can have significant impacts on the terms of a mortgage, and the details of a consumer’s credit history can serve as a gateway to everything from employment to health insurance.