19.1 Image Hotspot – Dissect a Credit Report

Credit Report Basics – Recognize that a credit report is your financial “report card,” listing loans, payment history, balances, and inquiries lenders use to judge risk.
Credit Score Impact – Understand how on-time payments and low credit utilization build a higher credit score, lowering interest costs on future loans.
Smart vs. Risky Credit – Learn to use credit for long-term goals (education, housing) and avoid high-cost options like payday loans that trap borrowers in expensive debt.
Rights & Recovery – Know your legal protections (e.g., Fair Credit Reporting Act, Fair Debt Collection Practices Act) and the steps to rebuild credit after mistakes.

Good Reports Save Money – A strong credit history can cut loan interest from 19 % to 4 %, saving hundreds on the same loan.
Red Flags of Debt – Late payments, maxed-out cards, and using credit to pay credit signal trouble—seek help early.
High-Cost Credit – Payday loans carry sky-high APRs (300 % +); compare total costs and choose safer, lower-rate products.
Fix & Protect – Review your free annual credit report, dispute errors, pay on time, keep usage under 30 %, and understand your rights against harassment.

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