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Trevor, a college sophomore, is busy as he takes a full load of classes
and works part-time at a local restaurant. He shares a dorm room with a
roommate, and even though he does have a term paper due this week, Trevor
sits down at his desk to go over his checkbook to make sure he pays his
bills on time. He has a few bills, such as a car payment, and money in
his checking account helps cover daily expenses. He uses his credit card
for emergencies only. By watching his expenses and paying his bills on
time, Trevor is on the way to establishing a good credit rating. Other
ways to get a good credit rating include:
- Establish a checking and savings account
- Maintain required amounts of money in checking and savings accounts
- Pay for daily expenses, such as food and gas, with cash or checking account
- Use credit card for emergencies only
- Pay the full amount due on credit card bill every month
- Limit number of credit cards
- Make all bill payments on time
- Help yourself by keeping track of monthly expenses
- Keep copies of receipts in a folder or envelope
Remember, a good credit rating may affect whether you can buy a car or
home in the future!
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