2008 Woodie Awards
Seminar eases debt doubts
By: Amanda King
Issue date: 10/4/07 Section: Lifestyle
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Even if students aren't planning on taking out an auto loan in the near future, leasers and employers often check credit scores during the application process to gauge the dependability of their potential tenant or employee, said Hinson.
Close to 25 people - almost all from the school of business - attended the "Cashing in on Your Credit" presentation at noon in Sunnen Lounge on Sept. 26. Runde said SIFE hopes to make it an annual event.
"We want students to come so they can learn for themselves," said Runde. "You might as well learn it now so you can save yourself
future worries."
Hinson's tips on staying debt-free
•Check your credit regularly to be aware of any identity theft problems and know the range of interest rates you can get on new loans.
•Obtain your credit report for free once a year at each of the three credit major credit bureaus by visiting http://www.annualcreditreport.com.
•Pay your balance on time. Thirty-five percent of your FICO score is based on the timeliness of your payments.
•Pay off the entire balance each month to keep from paying hefty interest rates. If you can't pay the whole balance, pay as much as you can.
•Keep the number of credit cards you have to a minimum. Having a large amount of credit available to you can hurt your credit score. But don't close out accounts you've already opened because that can hurt your score too.
•Jot down credit card purchases in your checkbook's registry so that the bill at the end of the month doesn't come as a surprise.
Close to 25 people - almost all from the school of business - attended the "Cashing in on Your Credit" presentation at noon in Sunnen Lounge on Sept. 26. Runde said SIFE hopes to make it an annual event.
"We want students to come so they can learn for themselves," said Runde. "You might as well learn it now so you can save yourself
future worries."
Hinson's tips on staying debt-free
•Check your credit regularly to be aware of any identity theft problems and know the range of interest rates you can get on new loans.
•Obtain your credit report for free once a year at each of the three credit major credit bureaus by visiting http://www.annualcreditreport.com.
•Pay your balance on time. Thirty-five percent of your FICO score is based on the timeliness of your payments.
•Pay off the entire balance each month to keep from paying hefty interest rates. If you can't pay the whole balance, pay as much as you can.
•Keep the number of credit cards you have to a minimum. Having a large amount of credit available to you can hurt your credit score. But don't close out accounts you've already opened because that can hurt your score too.
•Jot down credit card purchases in your checkbook's registry so that the bill at the end of the month doesn't come as a surprise.
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