Magazine article Black Enterprise

A Seaworthy Credit Card

Magazine article Black Enterprise

A Seaworthy Credit Card

Article excerpt

Q A I read in the February issue that late payments and delinquencies can stay on your credit report for seven to 10 years and how you can counteract a negative impact by paying your bills on time and having at least one active credit card, which I don't have. I am currently deployed overseas. Should I apply for a credit card while I am overseas?

--Via the Internet

Well, it depends. If you are stationed overseas and will be living there for a substantial amount of time, now would be a good time to build your credit profile by applying for a new credit. This is especially true if you know that in the near future, you might be making a major purchase such as a car or a home. Doing so will allow potential lenders to see that you have a solid credit history, which is how they determine the interest rate to offer you. …

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