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SUNDAY, APRIL 3, 2016 |
Sponsored Newspapers In Education Content
ON THE ROAD TO BEING ON YOUR OWN
CREDIT 101
FOR MORE INFORMATION, VISIT BECU.ORG
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or visit
nie.seattletimes.com
EIGHT KEYS TO BUILDING GOOD CREDIT
A few good habits and helpful reminders can go a long way to helping you
establish or rebuild your credit.
1. Be patient with yourself.
Building good credit doesn’t happen all at once.
2. Choose a good financial institution.
Partner with a credit union or bank that’ll be there to help and guide you
as you build your financial history.
3. Save, save, save.
If you can’t afford to save, you can’t afford credit. Focus on building up
your savings before taking on credit. Prioritize building a savings
cushion of at least $1,000.
4. Pay on time.
Consider signing up for automatic bill pay. You can also record
payment due dates on your calendar or set up text alerts to
remind you when a payment is due.
5. Pay more than the minimum.
Even a little bit extra will make a difference.
6. Don’t max it out.
Pretend that your credit limit is lower than it is. Discipline yourself
to use no more than 30 percent of the credit available to you.
7. Check your credit report every year.
Go to
annualcreditreport.com
. If you find any errors, report them
to the credit reporting bureau.
8. Beware of offers in the mail—or on the quad.
Don’t give in to the deluge of credit card solicitations. Just shred them.
