The Importance of Credit History and Successful Saving

February 23, 2012

By Katie Bryan, America Saves communications manager

As part of America Saves Week, America Saves and Experian have released a new resource to help people understand the importance of their credit history and how this ties into successful saving.

Good credit plays an important role in your financial life. Not only is it essential for obvious things like qualifying for a loan or getting a credit card, but also for less obvious things like getting cellular telephone service, renting a car, and perhaps even getting a job.

Managing your credit will also help you save for a rainy day. A strong credit history, reflected in good credit scores, will let you qualify for lower interest rates and fees, freeing up additional money to set aside for emergencies, retirement, and other smaller unexpected expenses. Decreasing debt and increasing savings reduces stress and leads to greater financial freedom.

The packet includes information on:

  • What is a Credit Report and Score?
  • Why is Saving So Important?
  • How do I Start Saving?
  • What Savings Options Are Available to Me?
  • Why is Good Credit Management so Important?
  • 5 Tips for Building Good Credit.
  • Frequently Asked Credit Questions.
  • FDIC Model Save Accounts.

Today for America Saves Week, download our new credit score information and assess your credit history.

Visit America Saves on Facebook and Twitter.

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Blogger Resources

We are always looking for guest bloggers to share their savings tips and advice with our readers. 

Review Submission Guidelines

Tip of the Day

  • Written by Administrator2 | January 12, 2014

    Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. http://ow.ly/sj972

Saver Stories View all »

Taking Back Control Over Finances

Written by Virginia Saves | August 5, 2015

After becoming a Virginia Saver and getting help from BankOn classes and coaching, Nadine Bialo took back control over her financial affairs.

Read more...

Starting Over

Written by Katie Bryan | October 28, 2013

Until last summer, Michael Lindman spent money freely. “I was a union truck driver for 35 years and had a good income,” said Lindman. “I owned my own home, saved a little, and tried to live within my own budget. You always think there’s going to be that much coming in, but things can change in a split second.”

Read more...

Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

Read more...

Receive Updates

Sign up for Texts

Written by Tammy Greynolds | July 15, 2014

Read more...

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving