Posted on May 26, 2016
The Art Of Getting A Great Credit Score In The Military
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Your credit history follows you long after you transition out of the military. Here’s how to better your score.
This is a great guide for helping veterans, especially the younger vets. Credit is something that follows you all your life. If you have a low credit score, or no credit at all, you end up paying the highest interest rate the law allows. After I finished my tour I didn't have any credit. I didn't even think about it. All I wanted to do was party hearty and work. Times have changed and good credit is a must, from buying health insurance to buying a house.
This is a great guide for helping veterans, especially the younger vets. Credit is something that follows you all your life. If you have a low credit score, or no credit at all, you end up paying the highest interest rate the law allows. After I finished my tour I didn't have any credit. I didn't even think about it. All I wanted to do was party hearty and work. Times have changed and good credit is a must, from buying health insurance to buying a house.
The Art Of Getting A Great Credit Score In The Military
Posted from taskandpurpose.com
Posted >1 y ago
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Great information for folks just getting started. However, I feel the need to expound on the credit card piece. Just getting a credit card and not maxing out is not the proper approach if you want to build up your score. the key is the proper utilization of said credit card. The key is keeping the balance at around 20-25% of the available credit. Understand that staying at 50% or thereabouts will show a proper use of the available credit but will drive the scores up very slowly or not at all depending on your individual situation. Credit cards in which you carry a ballance of 80% or higher will have a negative impact on your scores.
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SGT (Join to see)
Great point SFC Christopher Perry. One more thing. Don't get your college kid a credit card with your name on it. LOL
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SFC Christopher Perry
SGT (Join to see) - Nope, mind got their own and they know how to use it. I swear the two of them get more offers from credit card companies than my shredder can handle.
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