May 4, 2010
KHEAA - Money Tip for May
kheaa_moneytipmay10.pdf
KHEAA - Money Tip for May
Learn to be credit smart
Once you start paying bills, you start building a credit score. If you have a history of paying bills late, it will be reported to credit rating agencies and affect the interest rate you pay on credit cards, car loans, apartment deposits and even your insurance. When you get a bill, pay it on time — every month.
A credit score is based on your payment history. Credit scores are used by lenders to help determine if applicants qualify for a credit card, loan, insurance or service. Most credit scores estimate the risk a company incurs by lending money or providing a person with a service — specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher your credit score, the less risk you represent.
To read more, click here.
kheaa_moneytipmay10.pdf
