How credit works | Atlas Help Center

What is credit?

Credit lets you borrow money to buy things now and pay later.

Impacts your life: Good credit helps you get loans, rent apartments, or even land jobs.
Saves money: A higher credit score means better interest rates and higher credit limits.

5 variables that impact your credit score:

Payment history : Pay your bills on time—late payments, bankruptcies, or foreclosures hurt your score.
- Tip: Pay your Atlas card balance before the due date.
Amounts owed: Keep your credit use low.
- Tip: Use less than 30% of your Atlas credit limit.
Length of credit history: The longer you have credit, the better.
- Tip: Keep your Atlas account open.
Types of credit : A mix of credit types, like loans and credit cards, helps.
- Tip: Ask Atlas about reporting rent payments to boost your credit.
New Credit: Don’t open too many new accounts at once.

Different data: Lenders report to different bureaus.
Different models: FICO and VantageScore use unique methods.
Update timing: Bureaus update records at different times.
Errors: Mistakes in one bureau’s data can affect your score.
Specific scoring versions: Bureaus use different versions of scoring models.

What to check: Personal info, account details, payment history, credit inquiries, and public records and any negative information that may affect your creditworthiness. It's important to review your credit report regularly for accuracy and any signs of fraud.
How often: Check yearly—or monthly if you’re improving your credit.
- Tip: Use the Atlas app to check your Experian Vantage 3.0 score anytime.

Visit annualcreditreport.com for free reports from Equifax, Experian, and TransUnion.
Use free apps like Credit Karma or Experian.

Atlas reports to all three bureaus as a “Line of Credit.” Depending on the app, you might see it under "revolving accounts" or similar categories.

Keep track of your credit regularly to protect your financial health!