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How-To-Guides

How to Make Smart Credit Decisions

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By: Lincoln Team
“Get Smart About Credit” on October 16th

On October 15, the nation recognizes “Get Smart About Credit” Day. Many Americans struggle with poor credit and debt for various reasons, and while identity theft is rising, there are plenty of ways to protect your credit from being sabotaged by others, including yourself. To help create awareness, the American Bankers Association offers webinars and recorded presentations so individuals can better understand how to manage their credit. Their latest webinar, 2021 Get Smart About Credit: Personal Finance Awareness for Young Adults, aired on September 15, 2021.

5 Tips to Build & Maintain Strong Credit

  1. Check your credit report once a year.
  2. Understand the factors that affect your credit.
  3. Raise your credit score by managing your credit responsibly over time.
  4. Create and monitor your budget.
  5. Know the Five Cs of Credit - Credit history, Capacity, Collateral, Capital & Conditions.

Here at 91ƵAPP, we know you need to fully understand the tools of your trade to be successful. And while an education is a wise investment in yourself, obtaining one requires a few basic money-management skills, too. Lincoln’s Financial Aid* department will work with you to create a financial aid plan to cover the cost of your education with grants, loans, scholarships and repayment plans. All of these options may prove to be very helpful, provided that you are able to manage your money. Lincoln's Financial Aid representatives help students form personal plans for sticking to a budget and practicing financial responsibility.

Additionally, Lincoln has partnered with the award-winning iGrad Financial Literacy Platform.  iGrad provides interactive tools, such as videos, articles and games, designed to help you gain skills and knowledge concerning student loans, good credit decisions and preparation for the future.

Investing in your education is essential, and so are everyday budgeting skills. Our students are taught how to manage a budget and everyday finances so they can focus their full attention on becoming the best professional they can be. Worries about credit or budgets will no longer weigh them down.

* Financial Aid is available to those who qualify.

NOTE: Article updated on 9/21/2021 with revised linking & ABA information with the newest webinar from American Bankers Association regarding credit for young adults.