Give Me Credit

Typically, students slide into debt through the extension (by credit card companies) of unaffordable credit lines.
Robert Manning

What Is Credit?

Simply put, credit is an advance credit sale or loan.  Think of a Credit Card - this is a piece of plastic that allows you to  Buy Now And Pay Later!   

How Does It Work?

The Buy Now Pay Later Theory Of Credit, Generally Costs You More Money. Credit Often Adds Cost Such As A Finance Charge. 

Why Is Credit Important?

Building a good credit history is essential to anyone who expects to make major purchases or start a business. Building good credit is actually easy to do - if you pay attention to your expenses and do not get spend happy with  credit.

Tips & Warnings  (* Information Collected from Ehow.com)

• If your application for credit is denied, you're entitled to a free credit report. The denial letter you receive should list the credit bureau used. Contact that company for the copy of your credit report.

• If you don't understand the report, contact the financial health education coordinator or contact any one of the credit bureaus.  (Experian, Equifax, and TransUnion)

• Setting up an automatic payment plan with your credit card company can help ensure that you never miss your minimum credit card payment.

• If you never use credit of any kind, it doesn't mean that you'll have a great credit history. Most lenders prefer to see a history of credit and debt payment.  However they do not have to be credit card debts.

• Avoid "shopping for credit." Each time you apply for a loan or credit card, an inquiry from that lender will be reflected on your credit report. Too many inquiries can signal to a potential lender that you're a risky customer.

Remember...

“Credit is like a looking-glass, which when once sullied by a breath, may be wiped clear again; but if once cracked can never be repaired”. Author: Walter Scott