This week, the Office of the Attorney General\u2019s \u201cConsumer Caution Corner\u201d seeks to educate consumers about using credit and what factors impact one\u2019s credit history. <\/p>\n
You can build a credit history or improve your credit history. One way is to get credit and use it wisely. That takes time. <\/p>\n
How can I get credit? <\/p>\n
If you do not have credit, the best place to start is with a credit card. Compare several credit cards. Apply for the credit card that gives you the best deal. Look for:<\/p>\n
\u2022 a low annual fee<\/p>\n
\u2022 a low APR, or annual percentage rate<\/p>\n
\u2022 lower fees:<\/p>\n
\t\u2022\tif a payment is late<\/p>\n
\t\u2022\tif you go over your credit limit<\/p>\n
\u2022 a long grace period. This is the time between when you spend money and when the card charges you interest. Look for one that is at least 25 days long<\/p>\n
If you cannot get a regular credit card, try to get a secured credit card. Apply only for cards that report your history to the three credit reporting companies. Look for a secured card with:<\/p>\n
\u2022 no application fee<\/p>\n
\u2022 a low APR, or annual percentage rate<\/p>\n
\u2022 lower annual fees<\/p>\n
\u2022 no processing fees<\/p>\n
\u2022 higher interest rates on the money you deposit<\/p>\n
How can I improve my credit? <\/p>\n
You can use credit to build and improve your credit history.<\/p>\n
\u2022 Use your credit card a few times a month.<\/p>\n
\u2022 Buy things you can pay for that month.<\/p>\n
\u2022 Pay the whole credit card bill every month. Do not leave a balance on your card.<\/p>\n
\u2022 Pay your bill by the date it is due. Paying even one day late will cost you money.<\/p>\n
People who engage in these practices start to see a better credit history over time. Each week, the OAG\u2019s Consumer Protection Education Program shares Federal Trade Commission publications that provide consumers and businesses with the \u201cknow-how\u201d to identify and protect themselves from unfair trade practices and marketplace schemes. If you would like to file a consumer complaint, please pick up a form at the OAG (ion Capital Hill) or request one by email from consumer_counsel@cnmioag.org. After completing the consumer complaint, please submit it by email or in-person. <\/p>\n
We cannot act as your private attorney. If you need legal assistance, we will recommend that you contact a private attorney or legal aid organization. We cannot give legal advice or act as your private attorney. <\/p>\n
Michael J. Cyganek is consumer counsel of the Office of the Attorney General.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" This week, the Office of the Attorney General\u2019s \u201cConsumer Caution Corner\u201d seeks to educate consumers…<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[16078,2626,14798,86],"class_list":["post-248785","post","type-post","status-publish","format-standard","hentry","category-opinion","tag-apr","tag-attorney-general","tag-consumer-caution-corner","tag-oag"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/248785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=248785"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/248785\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=248785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=248785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=248785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}