Wednesday night I attended a few classes with Jessica; they were the first of the WPCU “pit stops.” They covered credit reports/scores & budgeting. Both were extremely interesting and helpful, not to mention, eye-opening.
When I was younger, I had a credit card and almost ruined my credit completely. Once I finally paid it off years later, I told myself, “Self, NO MORE CREDIT CARDS!” That is, until Wednesday night. I learned that having open cards, with AVAILABLE revolving credit is actually very helpful for getting your credit score up. I actually hurt my credit by closing the card! Using it once a month, even if it’s for a tank of gas, then paying it off at the end of every month would leave a large part of the credit available, and unused. That means I could easily pay off the balance (with money that was hopefully earning some dividends in my savings account), and my score would be improving. Although my credit still has a few dings and bruises, after Wednesday night, I feel confident that it’s completely reparable; something I believed years ago would never be the case.
It takes a lot of discipline, but having a credit card doesn’t mean having to be in DEBT. It can help you or it can hurt you; like anything in life, it’s all in how you use it.
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