2008 Woodie Awards
Forget the stress: Regain good credit
Theresa Vosilla
Issue date: 1/26/06 Section: Features
- Page 1 of 2 next >
|
A sigh of relief for many, the holidays are finally over, but unfortunately now the bills are quickly coming in.
Most college students had a long list of gifts to give this holiday season, with a limited amount of funding for these purchases. The answer to that problem, for many was the use and abuse of their credit cards.
"I didn't have time to work before the holidays so I charged everything on my credit card. Now that the season is over I am back at school and don't have a lot of time to work and pay the cards off, so I do have a little more credit card debt than usual," said Adrienne Kupka, junior, Huntington, N.Y.
Thankfully there are some helpful tips that SHU students can follow to help get their credit in check.
"Start by prioritizing" advises Pulliam Weston in the January 2006 issue of Marie Claire magazine. Says,"If you can only make the minimum payments or are borrowing from one credit card to pay off another, speak with a nonprofit credit-counseling agency, such as National Foundation for Credit Counseling at www.nfcc.org."
Directed by their website, debtadvice.org one of these agencies can help you to understand your situation while you can begin to clear your debt, and obtain good credit. They will help you develop a spending plan that covers your living expenses and payments to your creditors.
In addition, according to smartfinancetips.com, one of the most important things to remember is to always have your bills paid on time.
Being consistently late with your payments is the easiest way to lower your credit score. Paying your bills on time or early is the easiest way to improve your credit. Even if you can only make the minimum payment, get the payment there before the due date.
The site also advises that a great way to have your bills in on time is by having them automatically deducted from your bank account or paid online before they are due. Most credit card companies allow you to pay online, so make sure you take advantage of this and don't waste time and money on stamps and mailing.
Keep in mind that if negative comments on your credit report are correct, they can remain in your file for up to seven years.