Credit Reports Archives

What is a penalty rate?

May 11th, 2011 by Cara

75% of credit card providers include a penalty rate clause with their credit card offers. Rates can increase dramatically if payments late (avg. 23% vs normal rate 6-12%). After six months of timely payments, most creditors will consider lowering your APR again.

What is an introductory rate?

May 11th, 2011 by Cara

Most credit card offers include an introductory rate for the first few months. A 0% offer can be a great deal BUT – How long does the introductory rate last? Does it apply to new purchases and balance transfers? Creditors can usually cancel the introductory rate early if you make a late payment.

What is a grace period (for credit cards)?

May 11th, 2011 by Cara

This is the period of time (usually 20-29 days) when you can pay your credit card bill without being charged interest. If none, interest is charged as soon as you make a purchase.

What is an annual fee?

May 11th, 2011 by Cara

Charge sometimes required by credit card companies for use of an account, fees usually range between $35-$50. With a rewards card, you should ensure that the benefits of the mileage or points program outweigh the cost of the annual fee.

Why should I have a credit card?

May 11th, 2011 by Cara

Build credit, increase your borrowing power, and make major purchases.

How do I report a lost or stolen card?

May 11th, 2011 by Cara

Call the customer service number on your billing statement, search online or call directory assistance (411) to ask for the toll-free number of the banking institution (ex. Capital One, Citibank, etc…).

What is a credit inquiry?

May 11th, 2011 by Cara

Any time your credit report is requested (usually over 24 month period).

What influences your credit scores?

May 11th, 2011 by Cara

payment history (35%) -level of indebtedness (30%) -age of credit history (15%) –credit inquiries (10%) -types of accounts (10%)

Who sees your credit report?

May 11th, 2011 by Cara

Court Ordered – YOU – credit transactions, credit review of existing customer, debt collection – employment screening -insurance underwriting – government license screening – state or local child support enforcement authorities.

What does your credit report not include?

May 11th, 2011 by Cara

Your level of education, medical history, purchases paid by cash or check, gender, national origin, race or religion, your investments, income, alimony commitments.

Featured in Plymouth Magazine

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A Young Man’s Journey from a Nepalese Refugee Camp to the New Hampshire Polls » Southern Bhutan. Early 1990s. Members of an ethnic minority population, the Hindu Lhotshampas, began fleeing rising levels of persecution by the Bhutanese government. Denied their citizenship rights because of religious and cultural differences, the group—more than 100,000 strong—eventually sought protection […]

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And Justice for All

Alisha Medeiros ’15 wants to help troubled youth make better choices and live fulfilling lives. This desire, influenced by a family tragedy, led her to pursue a career in criminal justice.

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Next Steps

Grant-funded Program Prepares Special Education Teachers » Looking over a classroom of a dozen junior high school students at Plymouth Elementary School, special education intern Jennifer Kay ’99 worries what the future holds for the class of kids with mental and physical challenges. “I have doubts about where some of my students will be in […]