For the original story, go to: https://www.ndsu.edu/news/view/detail/28218/
Herbert Snyder, professor of accounting and chair of accounting, finance and information systems, is featured in a new article on WalletHub.com.
Snyder is one of 34 quoted experts in the March 7 story, “2017’s Cities with the Highest and Lowest Credit Scores,” by reporter Richie Bernardo.
Among other things, Snyder was asked for tips to increase a person’s credit score in a short period of time and common mistakes people make when trying to improve their score.
“I usually suggest getting one report from each of the Big 3 credit agencies (Equifax, Experian and TransUnion) spread out over the year,” Snyder said in the article. “Another action that consumers can take is to pay down their balances.”
He also was asked about the best way a young person can build credit. “There is no quick fix for establishing good credit,” Snyder said. “History helps you as a consumer if you’ve done a good job paying off debt. Lenders want to loan money to people who will pay it back. The best way to build good credit is to demonstrate you can pay it back. Keep the amount of money you owe to manageable levels and pay it back on time.”
WalletHub’s analysts compared the average credit scores of residents in 2,534 U.S. cities as of October 2016. Cities were placed in three categories, based on population.
Snyder joined the NDSU faculty in 2003 and is considered one of the leading forensic accounting educators in the country. He has written two books, more than 35 refereed articles and given numerous conference presentations.
Snyder received the Association of Certified Fraud Examiners’ Fraud Educator of the Year award in 2010 and the 2005 Hubbard Award for the outstanding paper in fraud research. At NDSU, he has received the Peltier Award and Chamber of Commerce Distinguished Faculty Service Award.
He earned his bachelor’s degree at Babson College and his doctorate in information science from Syracuse University.