Credit has been a hot topic among students for a long time. You may want to know what impacts your credit score both positively and negatively. To know that helps to know what is recorded on your credit report.  

A credit report tracks the history of your past debts using information from the three credit bureaus—Experian, TransUnion, and Equifax. Typically, each credit bureau gets a monthly report from your lenders to see if you have made your monthly payment on time and in the right amount. They also want to see how much you are using your credit line (such as on a credit card).  

Typically, bills that are non-debt related, such as utility bills, rent, medical, etc., are not reported monthly, though that can change if you fall behind and if the vendor chooses to report it. 

In short, what impact areas are on the credit report, and what can you do to maximize a positive impact on our credit report? Along with staying up to date on all bills, here are the five main credit score impact areas: 

• Payment History = 35% impact 
  • Tip: Make all payments ON TIME, EVERY TIME, in at least the minimum amounts required.
• Amounts Owed = 30% impact 
  • Tip: Try not to use your credit card more than 30% of its credit limit (For example, if the card has a $1,000 limit, try not to go above $300 before paying it off). 
• Length of Credit History = 15% impact
  • Tip: Consider NOT closing out an old credit card; use it occasionally and pay it off completely to continue a positive credit history. 
• New Credit = 10% impact 
  • Tip: Try not to seek too many loans at the same time (Example: When shopping for a car, do not let too many dealers do a hard pull on your credit at the same time when seeking a loan).  
• Types of Credit = 10% impact
  • Tip: A couple types of loans are helpful, such as revolving debt that can be reused (such as a credit card) and installment credit (such as a fixed auto loan) 

Remember, you can start impacting your credit score by using a credit card for everyday expenses and PAYING IT OFF completely before it is due. This will help you avoid interest while still building your credit score.