Money Matters: Nicole Lapin has tips on giving yourself a credit check

America is a nation that runs on credit. According to Forbes, around 38% of all American households currently carry a balance on their credit cards of more than $16,000 in debt.

What's far more shocking than this --- is just how little the American public knows about credit and credit scores.

Financial expert Nicole Lapin is here to dissect the information.

What is your credit score?

  • 35% payment history
  • 30% amount owed
  • 15% length of history
  • 10% credit mix
  • 10% new credit

Let's go through a few common myths...

  • Better to be debt free or pay off debt?
  • I have to carry a balance on my credit card to improve my score.
  • Closing multiple accounts will help my credit score.
  • Paying off a negative report makes it disappear.

Everyone is entitled to a free copy of their credit report. So how do we get one? 

Authorized by federal law...just go to: annualcreditreport.com

Your credit score will save you money! Get a free copy of your report, check for errors & fix them.

'Like' Nicole Lapin on Facebook.

Follow Nicole Lapin on Twitter: @NicoleLapin

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