IMPORTANT NOTICE
Due to the ongoing spread of COVID-19, the Missouri State Treasurer’s Office has instituted a work-from-home policy for most employees. Please be advised that while all critical functions of the office are being fulfilled, due to the volume, there may be a delay in some services including the processing and payment of unclaimed property claims.
Financial Literacy Portal

Adults

Financial Literacy / Adults / Credit 101

Types of credit

Credit Cred Video

Learn about different types of credit and the costs associated with using credit. Consider the importance of building strong credit by borrowing wisely and paying promptly, arranging credit for making major purchases like a car or home, avoiding common credit mistakes, and monitoring your own credit. You'll also learn about credit reports, your credit score, and steps you can—and should—take to build your own credit.

FICO Credit Score video

Federal Reserve Bank of St. Louis: Understanding How a FICO Credit Score is Determined

Understand how a FICO Credit Score is determined and why scores are important.

Costs of non-traditional financial services v. traditional financial services

Personal Finance 101 Conversations - Episodes 17, 18, and 19

  • Episode 17: Fees, Fees and More Fees: It all Adds Up Rent-to-own and “buy here, pay here” make it easy to get what you want. But what are the real costs that you will pay for this convenience compared with what you’d pay using more-traditional financing, such as loans or credit cards?
  • Episode 18: Tax Refund Fees Refund anticipation checks are often offered by tax preparers as a way to get your tax refund faster than normal—especially if you don't have a bank account. Also, some check-cashing stores and payday lenders are able to issue refund anticipation loans. This video takes a look at the costs of these options and suggests some cheaper alternatives.
  • Episode 19: Banks and Alternatives Payday and title lenders, pawn shops, check-cashing services, and prepaid cards can be convenient and valuable financial services, similar to those offered by traditional providers of such services—banks and credit unions.
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