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--- credit [2025/11/24 04:26] – created jhagstrand
+++ credit [2026/02/12 20:38] (current) – [Key Ideas] jhagstrand
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 ====== Credit ======
-Per Grok.
+[[American Expat Retiree Financials | contents]]
+=====Key Ideas =====
+Credit is monitored separately in each country.  A US credit report is irrelevant in other countries.
+Viewing a copy of your credit report requires a US address.
+There are three credit monitoring agencies in the US: Equifax, Experian, and TransUnion.
+The FICO score is a three-digit number from 300 to 850.  It is calculated by consolidating data from the three credit monitoring agencies.  Your FICO score can affect the interest rate you will pay on your mortgage and the amount you will pay for insurance.
+One of the factors contributing to your credit score is the total amount of credit available to you.  The more credit cards you have, the higher your score.  Therefore, closing a credit card account can lower your score.
+The trick is to pay the minimum amount due on time every month.
+Banks issue credit cards.  You get a credit card from a bank.
+Banks do not have access to your credit report.  Your bank account is not affected by your credit report.
+You can get a free copy of your credit report from each agency once per week at
+{{https://www.annualcreditreport.com}}.  This website is sponsored by the three agencies.
+{{https://www.myfico.com/}}
+=====Per Grok=====
 To freeze your credit, which restricts access to your credit report to prevent fraud, follow these steps for each of the three major credit bureaus—Equifax, Experian, and TransUnion. A credit freeze is free and doesn’t affect your credit score.