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Northwest Bank Encourages Students to ‘Get Smart About Credit'

posted on Thursday, October 17, 2019 in Education

image of students

Get Smart About Credit Day – held Thursday, Oct. 17, is an opportunity to share program resources and information.

As we start building a credit history, it’s crucial that we understand how to use credit to our advantage. Get Smart About Credit Day is a national effort to equip individiuals with knowledge that will help them make responsible decisions regarding credit.”

Take advantage of the following tips in honor of Get Smart About Credit Day:

  • Read the fine print on the credit application. The application is a contract, so read it carefully before signing. Credit card companies are very competitive, so interest rates, credit limits, grace periods, annual fees, terms and conditions may vary.
  • Be wary of anyone who claims they can "fix" your credit report. No one can legally remove negative accurate information from your credit history. The only things that can fix a credit report is time and a positive payment history. Follow your credit score on your Northwest Bank Online or Mobile Banking - 24/7.*
  • Know the warning signs of credit trouble. If you pay late, use cash-advances to fund daily living expenses or frequently transfer credit card balances to other cards, you might be in the "credit" danger zone. Talk to a financial counseling organization to regain control of your finances.
  • Pay at least the minimum amount due on your accounts. This will help you avoid late fees and a rising annual percentage rate (APR). To pay off your balance more quickly, pay more than the minimum due. If you are unable to make the minimum monthly payments, let your creditor know prior to the date so they can work with you to create a more manageable payment plan.
  • Do NOT share your credit card number. Never give out credit card or personal information if you have not initiated the transaction. Be aware of identity theft and phishing scams that ask for credit card numbers. If you suspect that your identity has been compromised, file a complaint with the Federal Trade Commission by calling 1-877-ID-THEFT (1-877-438-4338); TDD: 202-326-2502, or visit
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