You have big plans for your future in dentistry, and we want to help you make the most of it. High credit scores can translate into better rates on your student loans, auto loans, mortgages, credit cards and practice loans. Read on to learn about some key concepts and get …
As busy dental students, our credit score is the last thing we want to think about, but it is never too early to start building your credit. Building my credit score and maximizing credit card spending rewards are two of my hobbies. In my downtime, I like to check my credit scores and online bank statements, as well as read financial articles. Earlier this year, the method in calculating credit scores was changed. The new scoring system is being implemented by a company called VantageScore, which was created by Equifax, Experian and TransUnion. These changes could affect your credit score overall, whether you have good or bad credit. But how is your score calculated in the first place? Here are some factors that impact your credit score.
So…you graduate from dental school and you want to buy a practice. You know what state you want to practice in, but not much else; they didn’t teach you the business side of dentistry after all! So where do you start?
Let’s talk about credit cards: the good, the bad, the not-so-ugly. Most adults have at least one credit card that they use frequently. With the influx of technology in recent years, paper use has decreased; this includes the use of money. People don’t carry or use cash as often. A credit card is easier to carry, offers rewards or points and (uh oh) allows you to carry a balance. While credit cards are great in that they allow you to build credit history, people often sign up before entirely understanding what they are getting into. Here are some of the MYTHS about credit card use…
We have covered this topic before, but with the increasing costs of attending school and living in some of the major cities where schools are located, it is a topic worth revisiting. Credit card debt is some of the most easily accessible debt to students, but also the most harmful. Many students, already living off of debt in the form of school loans, do not think twice about charging necessary living expenses and other “standard of living” expenses to their credit cards.
