KNOXVILLE, Tenn. — United Way of Greater Knoxville, financial institutions, businesses and non-profit organizations hosted a free community event Saturday to encourage financial literacy.
Financial Literacy 720 is a campaign that aims to help families and young professionals reach a 720 credit score.
Credit Karma describes '720' as the starting point of a good credit score.
"It's actually the plumb line for really good credit score," First Horizon Bank employee Rod Reeves said.
A 720 credit score can open financial opportunities for you.
"It can help leverage you into home ownership, financial security and financial empowerment," Truist employee Angela Conner said.
Financial experts said you can start building daily financial habits right now to reach a good credit score. Step one begins with on-time payments.
"Mistakes people make is not paying their bills on time," Regions employee Eric Wolburg said. "Making your due date is the biggest factor."
They also encourage people to review your credit history, address your collections and avoid late payments as they can stay in your records for seven years.
Free services like Credit Karma and Annual Credit Report give you an insight into where you stand.
"Start by figuring out what's in your credit report," Wolburg said.
Advisors encourage young professionals who are starting their careers to build their credit right now.
"You want to practice the habits of good credit responsibility and pay it off every month," Reeves said. "Don't play catch up."