Attention College Students:
Don’t jump at all credit card offers coming your way.

Many college students are graduating with more than a degree... they are also graduating with credit card debt. If credit cards are not used responsibly, having one can seem like a mistake, but having good credit provides benefits in today’s credit-oriented society.

Once you graduate you will find that having a good credit score is important for many things – such as renting an apartment, getting a car loan and insurance, and even finding a job.

Getting a credit card is often a good way to start building your credit
score. When deciding what card to apply for avoid being swayed by freebies the
companies hand out. Instead, note and compare the important features of each card, including:

• The annual percentage rate (APR)... it’s the interest you are charged on any balance that you carry over, or do not pay off, each month.

• The grace period... the number of days you have to pay off your balance before you are charged interest on your new purchases.

• The fees. These can include annual, late, and over-limit fees, as well as fees for not using the card.

Once you obtain credit, use it responsibly. Only charge on your card what you can afford to pay off in full the next month. Prioritize making your payments on-time. If you make your payments late not only can you incur late fees and a higher APR, but your credit score may be damaged as well.

To learn more about establishing good credit, or just what your credit score means, take a self-study course online at www.gpofcu.com/education.

Are you interested in establishing a good credit score
or worried about how to handle existing debt? 
BALANCE can help, and it's available at no cost to GPO members.

A counselor at BALANCE can go over your credit report,
talk about debt repayment options, and help you develop a budget.
Call 888-456-2227 or visit our BALANCE website for more information.