Single Moms Need a Credit Card |
| Published: July 8, 2008, 5:29 pm |
| Tags: finances, single mom stories, credit, single moms |
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I was talking to a friend of mine recently, a single mom. She was in the process of buying her first home. She was able to make the payments and had a down payment all set, but she had not enough credit history to secure the mortgage. She told me that the mortgage guy said she should apply for two credit cards. Wow! Silly me. I thought everyone, except the credit card addicted, had a credit card or two. I guess if you paid cash for everything you needed you’d be a very lucky and disciplined person, but for me, using a credit card makes life way easier and it improves my credit rating. Why? Because I pay it off every month. Even if you don’t like the idea of having a credit card using one and paying it off every month establishes you as a good credit risk. It takes a few months for the credit companies to find out how great a lendee you are though, so if you are contemplating needing a real loan for real estate or financing college, get a credit card or two, spend a little [ Full article ] |
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