Carrie Johnson, Extension personal and family finance specialist and assistant professor of human development and family science, is featured in a recent online article for WalletHub.
The article, titled “What Is a Good Credit Score?” was written by John S. Kiernan, senior writer and editor.
Johnson is one of five experts from across the country who were interviewed for the article. She was asked:
• Do you think the average person appreciates the importance of having a good credit score?
• What is your best tip for building a good credit score?
• What is the biggest mistake people make in their quest for good credit score?
• Is building good credit easier now than in the past?
“I have two tips to help build a good credit score,” Johnson said, noting that the average person appreciates the importance of a good score. “Number one: always pay bills on time. Credit bureaus start considering a payment late when it is 30 days past due. This is the largest determinant in credit score calculations. The other is to keep balances on revolving accounts relatively low to the limit.”
She suggests staying below 30 percent of available credit on accounts, and paying off balances every month, if possible.
“I think the biggest mistake people make is believing that if they have a bad credit score, they can never come back from it,” Johnson said. “The truth is that while it may take time, bad credit can be turned around with a little focus and determination.
Johnson joined the NDSU faculty in 2016. She earned her bachelor’s degree at Dakota State University, Madison, South Dakota; her master’s degree from South Dakota State University, Brookings; and her doctorate in family and consumer science education from Iowa State University, Ames. She is an accredited financial counselor.
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