AOL had this information on their finance site recently. It’s something to think about if you’re having trouble with bad credit.
Georgia title loans or Idaho title loans can help in more ways then one. Once you read the AOL story below, you’ll see applying to a bunch of lenders hoping something will work out, could actually lower your credit score even more.
One more reason why payday and title loans help the people who need help most.
1) If you’re trying to get a credit card for the first time, new laws have made it much harder. Your best bet is to try to sign up for a basic card at the same bank where you have a checking or savings account. Even then, you may need a parent or older adult to be a cosigner on the account — meaning that if you forget to pay your bill, they are held responsible for the balance. Expect a low credit limit, often less than $500 at first, and no free pizza or water bottles for signing up.
2) Your credit score matters, but many college students don’t realize it. Every time you apply for a card, even if your application gets rejected, your credit score will drop 5-10 points. Go on a spree trying to get every store charge card you can, just for the 15% discount each time, and you could find your score 50 points lower in a matter of months, even if you pay your balances on time. That could hurt when it comes time to rent an apartment, get affordable car insurance — or apply for your dream job.
“A lot of employers check credit reports before they hire you,” youth financial expert Peter Bielagus told WalletPop in a phone interview. “So if you have a lot of debt and you have a late payment here and a late payment there, certain companies aren’t going to want to hire you.”
“DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.”
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