Credit System
Lender
What it means
Any company or person that extends credit or lends money to a borrower. Common lenders include banks, credit unions, mortgage companies, auto finance companies, and credit card issuers. Lenders use credit scores and reports to judge risk before they lend.
Covered in the free course
- What Is Credit and Why Does It Exist?Understanding Credit
- The 5 FICO Factors: Your Score at a GlanceUnderstanding Credit
- Meet the Three Credit BureausUnderstanding Credit
- Who Sees Your Credit and Why It MattersUnderstanding Credit
- Why Payment History Rules EverythingPayment History
- What Utilization Is and Why Lenders Obsess Over ItCredit Utilization
- Getting Your Free Reports (All Three)Reading Your Credit Report
- Anatomy of a Credit Report: Section by SectionReading Your Credit Report
- Starting with No Credit HistoryBuilding Credit from Scratch
- Late Payments: How Bad Are They Really?Payment History
- The Statement Date Trick Most People MissCredit Utilization
- Revolving vs. Installment Credit ExplainedCredit Mix
- When to Diversify (and When to Leave It Alone)Credit Mix
- Hard vs. Soft Inquiries: Know the DifferenceNew Credit & Inquiries
- Rate Shopping: The Exception to the RuleNew Credit & Inquiries
- How to Apply StrategicallyNew Credit & Inquiries
- Identity Theft: When Your Credit Gets StolenCommon Credit Problems
- The Secured Card StrategyBuilding Credit from Scratch
- Credit-Builder Loans ExplainedBuilding Credit from Scratch
- The Authorized User Fast TrackBuilding Credit from Scratch