Page 11 - aruba bank - aug 15_Neat

BUSINESS Wednesday 15 august 2018
A25

What really matters with your first credit card

By CLAIRE TSOSIE ster your credit scores if you
Associated Press continue to make on-time
Getting your first credit payments on the account.
card is like moving into your USEFUL REWARDS
first apartment: It’s exciting, When Zina Kumok applied
empowering — and, once for her first credit card at
you get used to it, pretty 22, she wanted a sign-
underwhelming. up bonus — one that she
Your first time out, “you’re could earn easily.
not going to have a credit “I wasn’t making a lot, and
card that is going to have I was trying not to spend
a high limit,” says Paul a lot” at the time, says Ku-
Golden, spokesman for the mok, now 29, a freelance
National Endowment for Fi- writer in Indianapolis who
nancial Education. “It’s not covers personal finance.
going to have great ben- “I didn’t want to feel like
efits or kickbacks or reward I was being pressured to
programs probably tied to spend more to reach a bo-
it. And that’s OK.” nus, which obviously never
A starter credit card is just works out in your favor,”
that — a start. Used respon- she says. Kumok opted for
sibly, it’s a way to build a a card with versatile cash-
positive credit history, which back rewards and a sign-
will help you with things like up bonus with a modest
getting a better deal on a In this June 15, 2017, file photo, credit cards are seen in Haverhill, Mass. A starter credit card is just spending requirement.
mortgage or cheaper car that, a start. Follow Kumok’s lead: Look
insurance; and it will help Associated Press for a card that will reward
you qualify for a card with for something more basic approval, apply through as an authorized user on a you for the spending you’re
better terms down the road If you already have a cred- the bank you already use card with history of on-time already doing to avoid
— for example, one with it history that shows con- or with a preapproved of- payments and a balance overspending to land a
richer rewards. Here’s what sistent on-time payments fer received in the mail. If that’s far below the limit. sign-up bonus.
you should look for. and responsible borrowing you’re in college, look into NO ANNUAL FEES Keep in mind that cards
EASE OF APPROVAL — say, from repaying stu- a student credit card. Avoiding an annual fee with rewards tend to
When you have a thin dent loans — it’s possible Don’t have a credit history on your first credit card is charge higher interest
credit file and limited in- to qualify for a regular “un- yet? Consider applying for a budget-friendly move rates. But if you expect to
come, you’re not likely to secured” credit card that a secured card, one that that allows you to keep the pay your bill in full every
qualify for a card packed doesn’t require a deposit. requires a cash deposit. Or card open for a long time month, that shouldn’t be a
with benefits. Instead, aim To increase your odds of ask a parent to add you at no cost. That can bol- deal-breaker.q

Indian rupee falls to all-time low against dollar

By TIM SULLIVAN the dollar earlier in the day. been unable to stop a been troubled for years, will make Indian exports
Associated Press He said the dip resulted sharp plunge in the lira, but the latest crisis was set cheaper on overseas
NEW DELHI (AP) — The Indi- from “external factors.” pushing the value of the off by worries over Presi- markets, was welcomed
an rupee fell to an all-time The rupee ended the day dollar higher and driving dent Recep Tayyip Erdo- by one of India’s top
low Tuesday against the at 69.93 per dollar, down down emerging-market gan’s economic policies industrialists.q
U.S. dollar amid worries that 110 paise or 1.6 percent. It currencies from South Af- and a trade dispute with
Turkey’s growing financial was the currency’s biggest rica to Mexico. Rajnish Ku- the United States. Turkey’s
crisis could spread to other one-day drop in five years. mar, chairman of the State government has so far re-
developing-world econo- The rupee has lost about Bank of India, said he be- fused to raise interest rates
mies. 8 percent of its value this lieved the rupee would sta- to prop up the currency,
Indian Economic Affairs year. bilize at around 69-70 to the fearing a political backlash
Secretary Subhash Chand- Garg said the country had dollar, the Press Trust of In- if it causes the economy to
er Garg told reporters that sufficient foreign exchange dia news agency reported. slow.
there was “nothing at this reserves to weather the Turkey’s economy has The falling rupee, which
stage to worry” about after downturn.
the rupee reached 70.1 to Turkey’s central bank has

Salina Cerca 23-i

4 Bedroom
3 bathroom
apt in the back
in front of Marriott
Price $ 1.4 million