Newspapers / The Perquimans Weekly (Hertford, … / May 28, 1987, edition 1 / Page 3
Part of The Perquimans Weekly (Hertford, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
Local News Credit given to those with credit Need cash? Want to borrow some money? If you're a regular borrower with a few paid-up loans under your Mt and a wallet full of credit cards, chances are you'll have no trouble borrowing money. But, if you've never had the need to borrow money or buy on credit, you could be consid ered a poor credit risk. Why? Be cause the philosophy of many lenders can be characterized by a slight mod ification of a familiar saying, "Give credit where credit is..." It seems that those with credit can get mote and those without mut first prove themselves. A prudent policy, no doubt, but one that can make life dif ficult for the first time borrower. To avoid being faced with a prob lem when the need for credit arises, the North Carolina Association of CPAs suggests that you establish a credit rating in advance of your need. Whether you're newly-married or newly-single, if you've never bad credit in your name, you should start working on establishing a credit rat ing. When you apply for a loan or credit card, lenders turn to credit bureaus to check on your status as a bor rower. Contrary to what many people think, it is not the credit bureau who decides how good or bad a credit risk you are. It simply collects informa tion about you and sells it to lenders who then determine whether they think you are credit worthy based on their own standards or credit scoring system. Your credit file generally contains basic identifying informa tion like your name, address, Social Security number, date of birth, em ployment history, etc. The credit bu reau knows where you have loans and how timely you are about repay ing them. They keep track of any judgements filed against you and whether any of your bills have been turned over to a collection agency. Obviously, if you've never used credit, a credit bureau cannot report on what kind of payer you are and therein lies the problem. With no credit history to rely on, a lender may be reluctant to provide you with a loan. To establish a credit rating, you should start small. Begin by opening a savings and checking account at the same financial institution. Wltfle this does not actually establish credit, it does develop a banking relationship. And later you may ap ply to this institution for a credit card. Normally, the easiest credit cards to get are those with a single pur pose?perhaps a department store or a gasoline company. Apply to stores or companies where you tend to shop most often. If your application is approved, your credit limit will, as a rule, start off low maybe just $500. But as you demon strate your credit worthiness, it's likely the store will increase your credit line. Once you receive your credit cards, be sure to use them. Just hav ing been granted a credit card does nothing to establish a credit rating. You must use your credit and demon strate a pattern of timely repayment. If you're using a credit card strictly to establish a credit rating and don't want to be faced with interest charges, be sure to pay your bill in full each month with the grace period allowed. And, be careful not exceed your credit limit. After a period of using and repay ing on your cards, you are ready to apply for national bank credit card such as MasterCard or Visa. Your chances of approval may be best at the financial institution where you opened your savings and checking account. Again, you'll probably be given a tow credit limit to start, with increases as your reward for prompt payment. Bank credit cards may carry more weight on your cedit rat ing than store charges because they are more difficult to obtain. There are those who advocate that you should apply for a personal loan as another step toward establishing a credit rating. But, if you don't really need the money, this may be costly, since there is no grace period for in terest. If you do decide to take out a loan for the sole purpose of establish ing a credit rating, deposit the loan proceeds in an interest-bearing ac count. This way the interest you earn can help offset the interest you will pay. Keep in mind that you will prob ably have to pay income tax on the interest income and that the tax re form act phases out the deduction for interest paid. After you've gone through all the trouble of establishing credit, you'll want to continue to use your credit in a sensible manner. Don't have any more cards than you need and don't get into any more debt than you can handle. Most experts agree that your credit debts (excluding mortgage and car payments) should not exceed 10 percent of your take-home pay. Be selective in choosing the right form of cridit to meet your borrowing needs. The right choice can save you a significant amount of money. Shop around for the best deal in credit cards. If you use your credit card mainly for convenience and pay your bill in full each month, you need not be very concerned about the annual percent age rate on your card because you will not be charged interest. You should look for a card with no fee and a long grace period. But if you tend to stretch your payments out, it's to your advantage to find a card with a low interest rate. You should keep receipts for all charge purchases until your bills come in and then check your receipts against the bills. Many billing errors have been discovered this way. It's a good idea to prepare a list of all your credit cards, with account numbers and the address and phone numbers of the banks or stores that issued them. Keep this list at home in a safe place. If your cards are lost or stolen, immediately notify everyone on your list. When you call, note the date and time and get the name of the person you spoke to. Then follow up your call with a letter. CPAs urge you to establish a credit rating in advance of your need and once you have, make every effort to keep your rating unblemished. Golf card available for father's dav aivina Forty rounds of golf from the Re search-Triangle area to the coast could be just what Dad wants for Fa ther's Day. The 1987 Golf Privilege Card, of fered by the American lung Associa tion, entitles the holder to one round lof golf at Forty different courses across the Eastern part of the State throughout 1967. The card is available for a $30.00 donation to the American Lung Asso ciation, and all proceeds go towards medical research, educational pro grams, and community service. For a Free brochure listing the courses that you can play at for less than $1,00 a round, call or write: American Lung Association of North Carolina, Eastern Region, P.O. Drawer 1407, Greenville, NC 27834; (919) 752-5093. Community calendar Pig pickin scheduled The Perquimans County Jaycees will sponsor a pig-pickin on June 20th from 4 to 7 p.m. at Perquimans County Central School. Proceeds from the supper will go toward the 1-k i* AI ? ? purchase of the 4th of July fireworks. Tickets are $3.50 per plate and can be purchased from any Jaycee mem ber. tiajjle tickets on sale Raffle tickets for a 19-inch cable re iady remote control color TV or a ^ ; VCR are available for sale from any ? Jaycee member for $1. The drawing 'will be held during the dance at the 4th of July festivities. Proceeds will be equally distributed between MD (Muscular Dis trophy) and the "Just Say No To Drugs" program. Strawberries continued 2 tablespoons sugar Vfc cup boiling water 1H cups frozen, sweetened, slice strawberries ! 1 baked pie shell >; Whipped topping Mix gelatin and sugar. Add boiling water and stir until dissolved. Cool until luke warm. Add partially thawed strawberries and mix thor oughly. Fill baked tart shells with the mixture. \ FRE8H STRAWBERRY PIE 1 quart strawberries % cup sugar 3 tablespoons cornstarch 1 baked pastry shell > Wash and hull strawberries. Drain thoroughly. Civer the bottom of the cooked pastry shell with the choicest berries. Crush the remaining berries. Add enough water to make lVfc cups, mix sugar and cornstarch. Add the crushed strawberries and bring to a boil. Cook over moderate beat until mixture is thickened and clear. Cool slightly, then pour over the berries in the pastry shell. Chill. Just before serving top with sweetened whipped ? cream. STRAWBERRY SHORTCAKE 2 cups flour y( cup sugar 1 tablespoon baking powder Vt teaspoon salt one-third cup fat (margarine or but ter) 1 egg two-thirds cup fluid milk 1 quart (4 cups) strawberries Sugar, as you like Mix flour, V* cup sugar, baking powder, and salt. Set aside. Mix in fat with a fork or two knives until crum bly. Beat egg and add milk. Add to flour mixture. Stir Just until mixed. Fill a greased baking pan half full. Bake at 450 degrees F (very hot oven) IS to 18 minutes until browned. When cooled, cut in two layers. Slice or crush the strawberries. Add sugar to sweeten. Put half of fruit and juice between cake layers. Put rest on top. Make 6 to 12 servings. fcuiinbell monument (Eompang Monuments Markers Mausoleums Available in aranit* (of various colors) or marbl* We Are Direct Factory Representatives Call Larry Swindell 509 Dobbs St. 426-7311 Now you can get a new 1985 700 LTD for i price thsrt u hot as the bike ioelf! Cruise into one today! ? DOHC In-Line Four i ? Shaft drive i ? Equalized air-adjustable fork ? Triple disc brakes Dr. A.F.Downum OPTOMETRIST EARLY INTERVENTION Young children or* vulnerable to many of the same optical de fects and eye disorders that adults are. These and other conditions that ore exclusive to or that generally first show up in early child hood present a particular problem, since it is during that time that children learn to see. The two main components of normal vision are 20/20 eyesight and the ability to use the two eyes together (binocular vision). Na ture has provided the first six years of life for learning these two skills. After six, or so, it is no longer possible for a child to pick them up. Any interference with this learning process because one or both of a child's eyes are less than healthy and structurally nor mal can seriously and permanently impair the development of nor mal vision. That is why it is so vital to correct eye problems in children as early as possible. Early examination of your child's eyes is, therefore, a major parental responsibility. Dr. A.F. DOWN U M 103 W. Ed?n St. Edenton, N.C. Phone: 482-8444 MURFREESBORO, NC: Perquimans High School students were represented among the nine high schools who participated in the 1987 Typewriting Contest, hosted by Chowan College's Department of Business. From left, front row, Angela Bryant, Dawn Downing, Back, Donna Harrell, Angela Byrum (teacher), and Julie Trueblood. College of the Albemarle news When your name is announced on national TV as the newest trillion-dol lar sweepstakes winner, you may need some help, before and after taxes, in managing your windfall. "You and Your Money," a course that is scheduled to begin on June 2 at College of The Albemarle, can help both new and experienced investors to make better decisions when devel oping investment strategies, accord ing to Oscar B. Porter. Porter, an investment representa tive with Edward D. Jones & Co. , will teach the summer continuing educa tion course at the community college. Classes will meet from 7 p.m. until 8:30 p.m. each Tuesday through Au gust 4 in Room A-229. A broad spectrum of topics will be covered, including why people fail at investing and eight rules for success ful investing. The instructor also will spend time discussing stocks and mu tual funds, options in tax-advantaged investments, life insurance, and fi nancial planning as components that help to assure a sound financial fu ture. A $15 registration fee will be charged for this course. Registration will be held during the first two class meetings. ELIZABETH CITY? Dr. Ruth Shaw, Central Piedmont Community College president, will deliver the spring commencement address to College of The Albemarle graduates at 6:30 p.m. on Friday, May 29, at the college's North Road Street campus. Shaw is the second woman to be named the top administrator of a community college in the 24-year his tory of the North Carolina commu nity college system. This spring, 110 graduates will re ceive degrees. During the exercises, one member of the graudating class will be recognized as the recipient of the President's Cup Award. The an I nual presentation is the highest honor that is bestowed upon a graduate by the college. SUNDRESSES All Styles Quality Clothing Outlet #4 Wards Shopping Center Hertford 426-7978 Photo's By George ' 1- *? 4 426-7274 (Memories to La^i... of thatSpeciaC Day Ik /u%HA?r <x^ (6t "pifiiett. TVteteUty A*uUot%MHf "TfCt. W 7Ki4 IViUiam "puuUUiH Aut4le*f. Sutiai t&tvi cAileOwi xtqutAt t&t fdtOAuic <%rf (four umtfiaMf at a itcefitioM Sunday, tfa. a/ On tfunvXAid turn (umdred ant eiqAfy-MveK at tfaut a ci&cJk i* tfa aftexKMH Social "%ait "yttntfrvwC "BaptOt (2/uixcA 7Har6ft Sfiutt "^ftntfoJuL Tfoitji (^auxUko. * Beginning June 1st all subscribers will receive 30 channels on the basic channel line-up for $14.95. * Anyone who is not receiving the additional channels past channel 13 may stop by our office Monday-Friday 9 a.m. - 4:30 p.m. to pick up their no deposit set-top converter.
The Perquimans Weekly (Hertford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 28, 1987, edition 1
3
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75