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2 The Da ly Tar Heel Thursday, January 15, 1981
tiM iiiiuiitia iiliiiiw C. uil ixi.aACi.iJ cllli 11 I'll vC
Uy 133 ANK VETO ,
l or students who are strolling with tight finances,
credit cards are becoming an attractive, and sometimes
dangerous, option to stretch limited resources.
Two North Carolina banks North Carolina
National Dank and First Union National Bank now
are allowing students to obtain limited amounts of
credit on their own merits, without a co-signer.
"We try to advertise that it's good to establish credit
before you graduate, and the best way to do that is
with a major credit card," said Susan Gordon, NCNB's
customer services representative.
.The credit requirements for students who want to
obtain one of NCNB's Visa cards are lighter than for
other Visa applicants. The requirements for income
and residency are not as stiff.
. At First Union, University Mall branch manager
John Moore said there were no special applications or
requirements for student credit-seekers. However,
students meeting the general credit criteria have been
granted credit. , ,
Rather than have a required monthly income of $500
and residency m an area for a certain length of time,
student applicants for NCNB's Visa need only have a
continuous job, NCNB branch administrator James
The job does not have to be full-time, and income
sources other than employment are acceptable,
especially if a student is receiving parental support,
grant or scholarship aid, Walters added. .
Gordon said two other factors in determining
whether a student is issued a credit card involved
checking-account record and grade point average. An
applicant must have had a satisfactory checking
account at any bank for at least three months and must
have at least a C average.
What is a satisfactory checking account?
"If someone has' had more than four overdrafts in
one month, I would consider that a credit risk,"
And why the C grade point average?
Students with at least average grades tend to be more
.' reliable in repaying borrowed money, Gordon said.
Despite the advantages of applying lor credit as a
student and the relaxed restrictions on student credit
granting, many students still are refused credit. And,
there are those who misuse credit, tangling up their
financial matters even worse.
"It doesn't hurt anyone to be declined (credit),"
NCNB's Gordon said.
"You can reapply if you've got good reasons for the
overdrafts," she added.
Walters advised that students not get discouraged if
they were refused credit the first time.
"If (students) have not established any credit, they
shouldn't expect to be granted-any credit on their own
merit on their first try,
"Too often they'll be declined on their own merit
and get perturbed. I know I did. I applied for a car
loan from this bank and was declined. I got my dad to
co-sign with me, and since then everything's been
Julie Lytle, a sophomore fronx Pennsylvania, had to
apply three times before she was issued a student Visa
card from "NCNB. Being out of state and having
previously bounced a check blocked her from being
given credit, she said, until the bank found out on her
third. try that the bounced check was actually a
banking error. :;-V'
There are some students who have had more serious
encounters with credit. After being granted credit,
they found themselves owing more than they could
repay, said Mike Rogers of Consumer Credit
Counseling in Raleigh.
"A student at UNC who came to us had a Visa card
and ran it up because he was married and needed the
money," Rogers said. "Then he and his wife
separated, and he got stuck with the whole bill since it
was in his name."
Rogers said the student didn't have any income, and
eventually resented getting the card at a time when he
really couldn't afford it.
'i - .
Students find credit ettrectiva
...despite its possible setbacks
At-the. Consumer Counseling Center, Rogers said,
counselors help students find additional sources of
income to pay debts such as financial aid, scholarships
and family help. Part-time jobs don't always cover
debts, Rogers said.
"There's also a period of drought until students find
a job after graduation that they may not be prepared
for," Rogers said. "They're not assured of a steady
income after they get out of school. A lot of students
get in trouble that way."
Gne way the bank tries to avoid such troubles is by
contacting a student applicant's parents to get their
approval, : ,;- '
"The bank sends the parents a letter that says, 'Joe
Shmoe has applied for a bank card, is that OK if we
send him one?'," said NCNB's Gordon.
In her experience, Gordon said she had never known
a parent to write the bank back and refuse a son or
'daughter's-being siyen a-creditcard'- .-.
. The Carolina Union Preoen ts an
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by Jewish Artists
wcicrcclcr, lithograph, silltscrccn,
etchings and much more
January 15-February 1
Second Floor Union Gallery
In Cooperation with the UNC Hillel
WASHINGTON (AP) National
Urban League President Vernon Jordan
said Wednesday that Ronald Reagan's
inauguration as the 40th president Jan.
20 comes at a time when the "national
mood is turning mean" toward blacks.
Jordan, wounded by gunfire last year,
cited the rise of the Ku Klux Klan and
other hate groups and the unsolved
murders of dozens of black adults and
children in urban centers.
Jordan declared that Reagan should
assert his moral leadership in behalf of
"racial reconciliation, racial justice and
minority progress" immediately upon
taking the oath of office.
"We don't intend to let the new
administration, the new Congress or the
private sector t ff the hook," Jordan
told reporters a he released the Urban
League's annual report on. the political
status of blacks. "We insist that the
assumption of power demands the
assumption of responsibility and the
price of responsibility must be to
improve the condition of America's
President Carter won 90 percent of
the black vote in the last election.
Jordan acknowledged that Reagan does
not owe . blacks a debt but added:
"Politically we may be on the outs. But I
think this is an opportunity for Mr.
Reagan, if he performs well to bring
black people back into the Republican
party where most of them were, up until
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Dill chllpdlegislative veto'. '.
RALEIGH (AP) Before the 134th session of the General Assembly
officially convened Wednesday, a legislative panel set the stae for
confrontation between the executive end legislative branches cf government.
. The Legislative Research Commission accepted without recommendation
the report from the Administrative Rules Review Committee, including a
proposal that would give the committee power to dsby any rules passed by
state government departments that it feels lacks Ieol authority.
Many opponents of the proposed bill say it amounts to a legislative veto.
Gov. Jim Hunt opposes the bill because, accordinj to his deputy leal
counsel Charles White, it violates constitutional separation of powers.
Saturday bus route begins
A Saturday bus route was started this week, brincin service to residents of
Pinegate and Foxcrcft apartments and the North Forest Hills neighborhood
off Airport Road.
The Saturday AD route runs hourly to Pinegate, Foxcrcft, Eastgate,
University Mall, downtown Chapel Hill along Franklin Street and then cut
Airport Road to Virginia Drive.
The new route follows the same path as the Saturday F bus from
downtown to University Mall and Eastgate.
From campus, the F bus leaves at 10 minutes past the hour while the AD
bus leaves at 35 minutes, after the hour in the morning and at AO minutes after
each hour beginning after 1 p.m. .
fly KiAHX ANtONA"
One hundred and, nir.ety-bne '"non
critical?.. jQbs.jmay. .be .elimiaalcdT from,
the 16-campus Universitjr'cf;:' North
Carolina system, trimmlng''the"' state
budget by about $2.5 million, Cibv. Jim
Huntaid Tuesday.,.-.. r :
Hunt recommended a 'total cut of
1,002 state jobs saving the state $13.02
million. ' 4 L- ''
However, because of the hiring freeze
for state employees put into effect last
fall, there are more than 500 vacancies
within the University system. This means
that instead of 191 employees of the
system being laid off, the offices With
vacancies may be eliminated,' UNC
officials said. . '"''"f"1 ""',
Felix Joyner, UNC vice-president in
charge of finance, said that the cutback
would not involve any faculty members;
"There arc far more vacancies than
the quota of cuts," Joyner said. "Many
of the vacancies may be removed from
amounting to about $4.1 million. The
Department of Transportation would
have to cut 254 positions at a cost of
Hunt asked the heads of state
departments and the Board of
Governors to submit a ilat of non-critical
positions that could be eliminated.
Hunt said he called for the cutbacks
because the state was in the midst of an
economic slowdown and "state and
national economists are not forecasting
a strong or immediate upturn in our
Brent Hackney, Hunt's deputy press
secretary, said he assumed the cuts could
be made in the vacancies but that the
decisions would be left up to the
department heads. Since the hiring
freeze was put into effect more than
I, (XX) state jobs have become vacant
making the total number of vacancies
throughout the state about 3,000.
Although the cuts appear substantial,
UNC President William Friday said that
in comparison to other states North
Carolina fared well. "We are always
looking at ways we can run more
efficiently," Friday said. "We have to
show an effective use cf money."
8 nviQ vrRti Etn 9io ?emJ2nr wr.t :wr.yw r -j
i nifJtMcB.0k: hit iJrtejJoSgi I ,i5Tr&&Mc'H aitiBuha percent
cutback would be the State Department reduction in state jobs which b not
of Human Resources where Hunt substantial compared to other states,
requested the elimination of 317 jobs Friday said.
jAf'UAriY at r.:iLTc;rs v.
is so"Z7hi::g elssi
Entiro Stock Don Robbio Eurcpccn Cut Suits
Reg. $215, Now .070X0
Grcst Doa!gncr Spcrto Copxs . .
V.wtl Vi J Vvu. J Ifivtlwwil lit J Itwitvi
clcchcd from $1C5 to vD.CD
Enilra stock ChcnHIa Terry Swcabrs by
Carlo Road, Reg. C4ZS0 01 0X0
Famous rrcks Fleeted Cheviot Pcnts
Reg. CCJ). . . . . . . . . . ..... ..... . . .... ...-01QX0.
CUR WINTER BUS!?JSSS IS GREAT,
HENCE THE SUPER BUYS TO
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Hours: f.on-Cet 10-C:C3; Cm 1-4
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)ViV (KWlx'i JANUARY
V J ulN on all Holiday
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