How to get and use your credit report wisely

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Using credit wisely is important to maintain a good credit score and avoid debt. Track your credit on a credit report.

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Get a free credit report from any of the three major credit bureaus like Equifax®, Experian®, and TransUnion®.

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1. Make payments on time: Late payments reduce your credit score. Set up automatic payments to avoid late fees.

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2. Spend within your means: Avoid buying things you can't afford. Your credit card is a tool to help build credit.

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3. Check your report regularly: Monitoring your credit can help you keep track of where you stand and spot errors and fraud.

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4. Understand credit card terms: Knowing your agreement's specifics can help you avoid unexpected fees and charges.

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5. Avoid using credit cards if you're already in financial trouble: Charges and other fees will add to your debt burden.

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6. Don't get hooked on special services, programs, and goods that credit card lenders offer to bill to their cards.

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7. Beware of unsolicited increases to your credit limit: Don't be encouraged to spend more if you can't afford it.

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