Advancement: Credit 102

Today's Credit Lesson will enhance your knowledge of the effects of bad credit and how to keep your good credit record, good! I apologize if this post is short in comparison to my other topics, however, I am working on the launch of my blog as well as keeping up with motivating posts. You'll thank me later!

Anywho, bad credit. In four words, YOU DON'T WANT IT! Trust me, I won't get into detail, but bad credit is something that you'll want to avoid. Now if you've read my previous post, Credit 101, I talked about some of the effects of bad credit, but didn't really get into detail. Today, I will school you on how credit affects you personally.

Bad Credit=

• higher interest rates
• more monthly fees than those with good credit
• less job opportunities (especially those dealing with cash/asset handling)
• less advancements in the workplace
• insurance premiums
• renting or buying a home
• costs of utilities; cell phones, gas, electricity, etc.

These are only a few... gym memberships, apartments, and many more.

So, here is my advice for keeping your good credit, well good, and avoiding ever reaching what the world considers bad credit.

1. Pay your balance in full, and ON TIME! Nothing is worse than a nasty late fee which could be as high as $40, even higher!
2. Make sure that your monthly statements are accurate! Creditors are people too, and they can make mistakes. There may be a refund that was never processed, you never know!
3. Don't take the first credit card offer available to you. Shop for credit cards the same way that you shop for a bargain at the mall.
4. Make sure you keep cushion between your balance and limit. Ex. if your limit is $500, make sure your balance is < or =" to">
5. Don't run your bills up to $1,000 if you only make $650/month! PLEASE, PLEASE PLEASE DON'T UPSET ME BY DOING THIS!
6. Don't apply for too many credit cards and/or loans. These = inquiries, which are also shown on your credit report along with all other accounts that are open, the balance, the amount past due, the monthly payment. So yes, people can see all of this about you! This helps them to determine your worthiness as a customer. If they see that you haven't paid any of your credit card bills in 3 months, you can just forget about receiving any sort of credit from them!

So, readers... please take care of your credit. This is an image as well, sort of like your personality. People do judge by credit worthiness, and it has become a case of labeling in America.

SAVE YOURSELF NOW!