New Delhi, Feb. 6 -- A poorcredit score reflects poorly on not only a person's finances but even his character. Therefore, if you are someone who has a poor credit score you need to clear your name and ensure that you are able to improve your credit profile and make up for the earlier errors.

It is also clear that a poor credit score can significantly undermine the financial prospects of an individual and his or her family. Hence, let's briefly discuss the simple concepts associated with credit scores. Concepts like credit score rating,credit cards, their implications, how they can shape the future of a family in both good and the bad ways.

A credit score is nothing but a financial report card. It is just like the report card children g...