Steps to good credit

Article Abstract:

Establishing a good credit history requires the same amount of determination and practice needed by athletes to excel in their fields. Just like athletes, people aspiring for financial security in later life must begin to prepare early. A good first step is to open up a checking account because this can teach young people about responsible management of their own money. The arduous process of building good credit involves the '3 C's.' The first of these is good character, which can be established through regular and timely payments. The second C is the capital provided by the co-signer. People who have not yet established their creditworthiness needs to have another person who will co-sign for their credit and will be willing to assume responsibility for the debt should they fail to pay for it. The final C is capacity, which refers to the consumer's ability to repay.

Methods, Financial management

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Sailing over the fence: the rewards of good credit

Article Abstract:

Young people who can establish good credit will reap numerous benefits. A good credit record can provide young consumers with access to financing, thus enabling them to make purchases that they otherwise would not have been able to make. In addition, good credit can enhance young people's chances of getting good jobs. Borrowers who pay on time and in full may be able to convince potential employers that they are responsible and can manage their own finances. There are a number of ways of establishing good credit. One is to open a savings or a checking account as proof of the consumer's ability to handle money. Another approach is to apply for a bank loan and to repay the loan promptly. This will help establish the consumers' reputation as responsible borrowers and demonstrate their ability to pay.

Debtor and creditor

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Phenomenal come back, astounding paybacks

Article Abstract:

The Consumer Credit Counseling Service (CCCS) of Arizona (Phoenix, AZ) has grown from servicing 265 debtors in 1984 to 2300 in 1988. Dispersals to creditors through Consumer/Debt Management Plans have grown 76% from $714,000 to $6.6 million during that time. CCCS, through First Interstate Bank of Arizona, has: created trust accounts for its debtor clients to expedite the posting of deposits; increased security; and reduced the liability of CCCS's operations.

Product introduction, Arizona, Consumer Credit Counseling Service, First Interstate Bank of Arizona N.A.

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