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Megan A. Rinaudo, CFP®
Financial Advisor

Recently, I had a conversation with a 20-year old about credit. She was frustrated that she couldn’t open a J. Crew credit card because she didn’t have any credit history. Her natural question was, “how can I get credit history if they won’t give me a credit card in the first place?” So we started talking about how credit works and ways she can establish and build her credit. In our conversation, it became apparent to me how important it is to educate about credit utilization early on before opening your first credit card. Most importantly to understand that credit does NOT mean free money and in fact can cost you much more money in the long run if you don’t stay on top of it. In addition to this month’s Next Gen Connections being dedicated to credit, we’re also hosting a webinar, Figuring Out Your Credit Score, with MFS on September 28th, 2021. You can register for it here.

ARTICLES OF INTEREST


Learn about the factors that can negatively impact your credit score
A history of late payments, not enough good credit, and too many credit inquiries are just a few of the factors that can negatively impact your credit score. Read about the others here…

Did you know that 65 percent of your FICO score is based on two key factors: your payment history and the amount of debt you carry versus the amount available to you (i.e., your credit card limits)? Read about the other important factors and 5 tips to managing your score in this article. 


If you've finished college within the last few years, chances are you're paying off your student loans. What happens with your student loans now that they've entered repayment status will have a significant impact -positive or negative- on your credit history and credit score. This article may help prepare you on how to avoid the negative side to student loans.



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