Credit, Decoded: No Confusion. Just Confidence.

At Edifi, we believe smart money moves start with understanding. Credit might sound complicated, but once you get the basics, you’re already ahead of the game.

So, what is credit?

Credit is like your financial reputation— your track record of borrowing and repaying money. Good credit = trust. And trust means banks and lenders are more likely to loan you money when you need it (like for a car, apartment, or even college).

There are two types:

• Secured credit: You borrow money with something backing it up, like your car.
  
  
• Unsecured credit: No backup needed, but you might pay more in interest.
  
  

Credit Score vs. Credit Report

• Your credit score is a 3-digit number (300–850) that shows how likely you are to repay debt. 670+ is good. 800+ is excellent.
  
  
• Your credit report is like a permanent record of your credit life—what you’ve borrowed, how you’ve paid it back, and more.
  
  

Pro tip: Never close old credit cards! They help your score more than you think.

How to Check Your Credit

• Use tools like Experian, Equifax, or TransUnion (free once a year).
  
  
• Edifi’s KeepSafe Checking Account includes access to your credit snapshot, right from your phone!
  
  
• Credit Karma is helpful, but double-check with another source for accuracy.
  
  

Credit is key to your future. At Edifi, we’ve got your back— because when you know more, you grow more!