Credit and Debt Management
Understanding debt and making wise choices about it are important parts of managing your money. How you handle your financial debt can greatly impact your future. If you get your spending under control now you can, develop good habits and set yourself up for financial success.
Understanding Credit Cards
Credit cards are a commonly used payment method and most people have at least one. There are benefits to credit cards but there are also drawbacks. Having and using credit cards is a big responsibility and one that you should consider carefully.
Here are some resources to help you better understand credit cards:
Credit Reports and Credit Score
Credit card use can impact your credit score. Your credit score is a statistical summary of the information contained in your credit report. Your credit report is a record of your prior financial related data. It is used to measure how big of a credit risk a person is and higher scores indicating less risk. Lenders and credit card companies will often use credit scores as a factor when considering your application.
There are many resources and agencies that will calculate your current credit score. It is recommended that you periodically obtain a copy of your credit report and review it. You should report any inaccuracies right away. To learn more about getting your free annual credit report, visitAnnualCreditReport.com.
Attend one of several workshops and events offered on campus in the five GPS LifePlan areas (career, education, finance, leadership, personal). To view activities offered this week, click here.
