2013-01-25T07:28:00Z 2013-01-25T18:32:14Z CONSUMER AFFAIRSJoseph Pellicciotti Times Business Columnist
January 25, 2013 7:28 am  • 

Credit tips for young adults

The fall 2012 issue of the Federal Deposit Insurance Corporation’s Consumer News includes an article providing young adults with tips on how to “Build a Good Credit Report.”

Young people becoming responsible for payment of their own debts should remember they create a personal credit history as they pay their debts. The history may impact the ability to get loans at good interest rates or even success in applying for jobs.

The agency urges young adults to pay debt on time; it helps to show responsibility.

If young adults have credit cards, limit charges to what is affordable to pay off immediately or very soon. Credit scores, the agency cautions, can fall if you owe a significant amount on your credit card compared to the card’s credit limit.

Seeking multiple cards may lower credit scores, as well, the FDIC notes.

One way to improve credit scores is to correct information in a credit history that is inaccurate.

You cannot correct what you don’t know is wrong, so it is wise to check your credit report.

Under federal law consumers may ask the three nationwide credit reporting companies annually for a free copy of their credit reports. Reports can be requested at (or by calling toll-free at 877-322-8228).

The full FDIC article is available at


Opinions are solely the writers. Pellicciotti is an Indiana University Northwest faculty member and administrator. The article is for informational purposes only and not intended as specific advice. Consult your professional advisor before taking action. Author does not endorse/guarantee content within websites.

Copyright 2014 All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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