National Credit Education Month – March 2023

March is National Credit Education Month which means there is no better time to educate yourself and others on the importance of understanding the ins and outs of your credit score. Did you know that one in five Americans find errors on their credit reports and that more than 90% of home and auto insurers use credit ratings to decide who to cover and what premiums to charge? It’s for these reasons you should actively monitor your credit score as well as educate yourself on how to properly manage it. Also how these scores help you find the funds for your future education to know more visit Scholaroo to find the best fit scholarship with your credit scores. Let’s get started. 

History of National Credit Education Month

There’s a lot to learn about credit during National Credit Education Month. While it’s a complex topic, there are some key concepts you should understand and there is no shortage of resources you can turn to for help this month. Your bank, your employer, financial experts, and the internet can help you learn how to manage, build, and improve your credit score.

As you explore the resources and events available to you this month, keep a few things in mind. Credit is an indication of your financial trustworthiness. Having “good credit” means your history of payments, employment and salary make you a good candidate for a loan, and creditors – those who lend money or services – will be more willing to work with you. While bad credit can follow you for quite a while (as much as seven years), it is fixable. The key is to know the right steps to take to get your credit back on track.

Not every source is credible. Some credit card companies will present themselves as a great deal but upon closer inspection, the fees, interest rates, and other terms are not in your best interest. So, dedicate the necessary time to educate yourself on credit and your current credit situation. It will benefit you in the long run.

National Credit Education Month timeline

Credit Card Act of 2009

Also known as Credit C.A.R.D., the Credit Card Act of 2009 shut down some malicious practices in the credit card industry and also required credit card companies to be more clear in their communications to consumers.

Institution of the Consumer Credit Protection Act

An important governmental regulation was introduced in 1968 that helped protect consumers from unethical credit practices.

Invention of the Term "Credit Rating"

Financial experts invent the concept of "Credit Ratings."

Appearance of the Term "Credit"

In 14th-century London, bankers and financial experts began to utilize the term "credit" to describe loan reliability.

National Credit Education Month FAQs

Where do I get my credit score?

There are three major credit reporting bureaus – Equifax, TransUnion and Experian – and, by law, you are entitled to one free report from each agency per year. You should get one report from each bureau because the information contained in the individual reports may not be consistent and you will want to confirm the accuracy of each.

When is National Credit Education Month?



 How much do Americans owe in credit card debt?

The total amount of credit card debt in the United States passed the $1 trillion (with a T!) in 2019. The average American household with a credit card owes $8,398.


  1. Check your credit score

    It is important to know your credit score for a variety of reasons. One of the benefits of a high credit score rating is being able to borrow money at a lower interest rate. When you need to purchase a new car, for example, they will check your credit rating to determine the interest rate of your car loan. Even when you believe your credit score to be in order, it can change very quickly so be sure to check it out this month!

  2. Focus on meeting payment deadlines

    One of the best ways to maintain or build a good credit rating is to make all your payments on time. If you have a bad habit of forgetting to pay bills timely, set up payment reminders through your personal calendar system. Even better, you can enroll in auto-withdraw with many of your accounts ensuring you never miss a payment.

  3. Teach your children about debt

    Yes, debt is a four-letter word but do your children a favor and teach them good overall money habits early. Did you know more young adults aged 20 – 24 declare bankruptcy than graduate from college? Credit cards are the biggest contributor to this. Teach them about saving money, wise spending, and how to build good credit sooner rather than later.

5 Tips To Improve Your Credit Score

  1. ​Pay bills on time

    ​Past performance is a predictor of future performance so pay all bills off timely – rent, utilities, loans, and credit cards.

  2. Keep debt to a minimum

    ​Understand your credit utilization ratio which is the amount of debt you carry (total amount of credit balances) compared to your combined credit limits; lenders like to see a credit utilization ratio of less than 30%.

  3. ​Keep up the good work

    ​The longer you can maintain a good credit rating, the better. Accounts that have been in good standing for a long time add to your credit score.

  4. ​Open new credit accounts only as needed

    Applying for credit results in a “hard inquiry” on your credit report which has a negative on your overall credit rating that can last for up to two years.

  5. Check your credit reports

    If you find inaccurate information on any credit report, you can dispute the information to have it corrected.


  1. It shows you how you measure up

    Credit scores can be confusing. The best way to understand your credit score is to see how your credit score compares on the spectrum. For instance, the national average personal credit score in the United States is 695. Determining whether your score is above or below might help you to decide how you want to manage your credit in the future.

  2. It teaches you how to build credit

    If you are just starting out and are new to the credit game, National Credit Education Month is the perfect time to start building your credit. There are many different tactics you can use to build your credit and many institutions have starter programs for young adults and students who want to build their credit. This can include credit cards with a very small balance resulting in low payments or small personal loans. Talk to your credit union or financial institution on how you can start to build your credit today.

  3. It helps you improve your credit rating

    Your credit score can have a huge impact on your financial life. Good credit is essential for getting manageable interest rates on cars, credit cards, mortgages, and many other financial investments. Knowing how to improve your credit score will prove to be imperative, as a bad score can inhibit you from making many major financial decisions.

National Credit Education Month dates

2022March 1Tuesday
2023March 1Wednesday
2024March 1Friday
2025March 1Saturday
2026March 1Sunday
Hearing Awareness Week
Universal Human Beings Week
Asiatic Fleet Memorial Day
Baby Sleep Day
Independence Movement Day
International Ideas Month
National Black Women in Jazz and the Arts Day
National Dadgum That's Good Day
National Fruit Compote Day
National Horse Protection Day
National Peanut Butter Lover's Day
National Pig Day
National Wedding Planning Day
Refired Not Retired Day
Self-Injury Awareness Day
Share a Smile Day
St. David's Day
Stop Bad Service Day
World Civil Defense Day
World Compliment Day
World Music Therapy Day
Yap Day
Zero Discrimination Day
Adopt a Rescued Guinea Pig Month
Bleeding Disorders Awareness Month
Brain Injury Awareness Month
Colic Awareness Month
Dolphin Awareness Month
Irish-American Heritage Month
March Madness
Multiple Sclerosis Awareness Month
National Athletic Training Month
National Caffeine Awareness Month
National Celery Month
National Cerebral Palsy Awareness Month
National Cheerleading Safety Month
National Color Therapy Month
National Colorectal Cancer Awareness Month
National Crafting Month
National Credit Education Month
National Crochet Month
National Developmental Disabilities Awareness Month
National Endometriosis Awareness Month
National Flour Month
National Frozen Food Month
National Kidney Month
National Music in Our Schools Month
National Noodle Month
National Nutrition Month
National Peanut Month
National Reading Month
National Sauce Month
National Social Work Month
National Umbrella Month
National Women's History Month
Poison Prevention Awareness Month
Red Cross Month
Save Your Vision Awareness Month
Trisomy Awareness Month
Veggie Month
Workplace Eye Wellness Month
Justin Bieber's Birthday’s birthday

Holidays Straight to Your Inbox

Every day is a holiday!
Receive fresh holidays directly to your inbox.