On Wednesday, the Federal Reserve rolled out a Consumer's Guide to Credit Reports and Credit Scores, a new online resource that explains basic credit topics, such as what goes into a credit report and credit score. The guide also links to tips for improving your credit score and advice on getting the most from credit cards.
True to the name of the guide, it uses a consumer-friendly FAQ format and layman's terms to address common questions about credit that range from how credit reports are used and how to dispute credit report errors to what causes credit scores to change. While you won't find detailed advice in the guide, it's a good reference for credit basics.
If you still have a question about credit after perusing the guide, search Bankrate.com or see if I've addressed the issue in a previous Credit Card Adviser column. If not, submit your question for consideration.
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