Credit scores are a relatively new invention. As credit cards became popular in the 1960s, card issuers needed a way to determine whether an applicant was likely to pay his or her bill on time. Although lenders used various means to assess that risk, their methods tended to be inconsistent and sometimes inaccurate. Around the same time, Congress started cracking...

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If you haven’t checked your credit report lately, this may be the time. Wrong or old information on your report can affect your credit score – and not in a good way. Your credit score helps lenders determine your credit-worthiness and can impact the interest rate you pay on loans or even whether you can obtain a loan at all....

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