Bad credit, good credit and no credit will follow a person everywhere. A person's credit history is pulled from a credit report. Experian is a nationwide credit-reporting company. Federal law requires that most negative information on a person's credit report be erased after seven years. Bankruptcy remains on credit reports for seven to 10 years, depending on the type of bankruptcy filed.
Positive information stays on credit reports indefinitely.
One student who wants to be anonymous said she uses her credit cards for convenience. She also uses her credit cards to pay her tuition until she receives a financial aid check. This student has the right idea when it comes to managing her credit. Credit becomes a problem with it is used to purchase items that can actually be purchased outright, such as a shirt or blouse. A problem arises when your money is paying off previous items.