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Essay / Research Paper Abstract
This 3 page paper examines an article that appeared in Money magazine and helps consumers learn how to improve their credit. The piece written by David Futrelle (2006) is entitled "How to Scrub Your Credit Score" and is aimed at the average consumer. The article is critiqued and the importance of personal credit is examined. No additional sources cited.
Page Count:
3 pages (~225 words per page)
File: RT13_SA726cre.rtf
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Unformatted sample text from the term paper:
Score" and is aimed at the average consumer. With the use of a quiz, questions are provided and answered. One question for example provides four choices in respect to a
query on credit improvement. As it turns out, three choices are correct. The article explains that paying bills on time, paying fines for overdue library books and at least making
partial payments on past due accounts can help (Futrelle, 2006). The article goes on to say that getting a higher paying job will not improve the credit score (Futrelle, 2006).
The next part of the quiz provides two scenarios. In the end, it is noted that having a higher outstanding balance is not worse than having a lower balance
with a lower borrowing capacity (Futrelle, 2006). Other ideas relayed in the article go to the fact that while it is not good to apply for a number of credit
cards at once, it is okay to shop around for a mortgage for example or check ones own score (Futrelle, 2006). Examples are also given in respect to how improving
credit can help. The author writes: "Raising your score from 600 to 720 could drop your credit-card rate from 18% to 9.6%" (Futrelle, 2006, p.44C). The article overall provides a
few interesting questions about credit and does respond with general information. However, there are many good tips imbedded in the answer. Overall, this is a good article, but is not
nearly as complete as one might like if they were to improve their overall credit. The information presented is really not new. The idea that one should not run
up credit cards to the max is really old, as is the fact that good credit scores secure lower borrowing rates. However, the fact that the author provides detailed information
...