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The benefits of having strong credit

NNPA NEWSWIRE — You can manage your credit to help you with future purchases — such as a home or vehicle — in a number of ways. Ultimately, strong credit can help you reach your goals by qualifying you for loans, contracts, discounts, and access to even more credit options.

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Once you have established good credit, work to keep it that way so you can continue to enjoy the opportunities that come with good credit. (Photo: iStockphoto / NNPA)

Learn how having healthy credit can help you access new opportunities, plus some tips on how to manage it.

Your credit score is one of the most important measures of financial responsibility. It’s a big part of what lenders and vendors look at when considering you for a loan or line of credit. It also can impact your ability to rent an apartment, sign a phone contract, or even get a job. Once you have established good credit, work to keep it that way so you can continue to enjoy the opportunities that come with good credit.

The financial benefits of good credit

Strong credit can help you get:

  • Easier approvals: Mortgage lenders, landlords, and auto finance companies will check your credit to see how reliable you are when it comes to paying bills on time and managing debt. Some employers will run a credit check if the job requires you to access money or sensitive data.
  • Lower interest rates: A high credit score not only makes it easier to be approved for services but it may also mean you may qualify for a lower interest rate on future credit accounts. You also likely won’t need a co-signer to get approved.
  • Savings on insurance: According to Certified Credit Counselor Netiva Heard, founder of MNH Financial Services, LLC, having a good credit score can help you save money on insurance rates, though the impact of your credit on this may depend on the state you live in. “Insurance companies have found that those with higher credit scores file fewer claims,” says Heard. As a result, some adjust their rates so people with good credit tend to pay lower premiums.
  • Additional savings: Having good credit may even give you the ability to purchase a service without putting down a costly deposit beforehand. To learn more about the perks of having good credit, visit the Hands on Banking® website.

How to manage your credit

You can manage your credit to help you with future purchases — such as a home or vehicle — in a number of ways:

  • Use credit cards smartly: Sometimes simply having a credit card can lead to spending more than you intended, leaving you unable to afford the balance. Failing to pay your credit card balance on time every month can rack up interest and hurt your credit score, so don’t spend more than you’ll be able to pay back. If you’re considering using a credit card to build your credit, take a look at the Hands on Banking website for tips on using one responsibly.
  • Pay down other debt: Your credit card balance is not the only thing that can affect your credit score. Student loans and other forms of debt can lower your credit score if not managed correctly. Keep track of payments, and try to pay a little more than the minimum balance each month. Keeping your debt low can help you maintain and even improve your credit over time.
  • Ask for help when you need it: If making payments on time for your credit card or a loan payment becomes too difficult, don’t be afraid to speak with the lender to negotiate a payment plan that works for you. It’s better to get ahead of any potential problems before you fall behind on payments.

Regularly review your credit

Beyond credit growth, review your credit reports annually to make sure nothing fraudulent or negative has been reported. Every 12 months, you can access your report for free from each of the three largest credit bureaus in the United States at annualcreditreport.com. “Be sure to check the inquiry and personal data sections where signs of identity theft can be spotted right away,” says Heard.

Ultimately, strong credit can help you reach your goals by qualifying you for loans, contracts, discounts, and access to even more credit options. Discipline and the ability to pay your credit-related debts off every month comes first, however.

© 2019 Wells Fargo Bank, N.A All rights reserved.

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IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78

NNPA NEWSWIRE — Born on September 4, 1945, in Los Angeles, California, activist Ramona Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.
The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

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By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Once upon a time, Black Americans were simply known as colored people, or Negroes. That is until Ramona Edelin came along. The activist, renowned for her pivotal roles in advancing civil rights, education reform, and community empowerment, died at her D.C. residence last month at the age of 78. Her death, finally confirmed this week by Barnaby Towns, a communications strategist who collaborated with Dr. Edelin, was attributed to cancer.

Born on September 4, 1945, in Los Angeles, California, Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.

Edelin’s contributions to academia and activism were manifold. She was pivotal in popularizing the term “African American” alongside Rev. Jesse L. Jackson in the late 1980s.

Jackson had announced the preference for “African American,” speaking for summit organizers that included Dr. Edelin. “Just as we were called Colored, but were not that, and then Negro, but not that, to be called Black is just as baseless,” he said, adding that “African American” “has cultural integrity” and “puts us in our proper historical context.”

Later, Edelin told Ebony magazine, “Calling ourselves African Americans is the first step in the cultural offensive,” while linking the name change to a “cultural renaissance” in which Black Americans reconnected with their history and heritage.

“Who are we if we don’t acknowledge our motherland?” she asked later. “When a child in a ghetto calls himself African American, immediately he’s international. You’ve taken him from the ghetto and put him on the globe.”

The HistoryMakers bio noted that Edelin’s academic pursuits led her to found and chair the Department of African American Studies at Northeastern University, where she established herself as a leading voice.

Transitioning from academia to advocacy, Edelin joined the National Urban Coalition in 1977, eventually ascending to president and CEO. During her tenure, she spearheaded initiatives such as the “Say Yes to a Youngster’s Future” program, which provided crucial support in math, science, and technology to youth and teachers of color in urban areas. Her biography noted that Edelin’s efforts extended nationwide through partnerships with organizations like the National Science Foundation and the United States Department of Education.

President Bill Clinton recognized Edelin’s expertise by appointing her to the Presidential Board on Historically Black Colleges and Universities in 1998. She also co-founded and served as treasurer of the Black Leadership Forum, solidifying her standing as a respected leader in African American communities.

Beyond her professional achievements, Edelin dedicated herself to numerous boards and committees, including chairing the District of Columbia Educational Goals 2000 Panel and contributing to the Federal Advisory Committee for the Black Community Crusade for Children.

Throughout her life, Edelin received widespread recognition for her contributions. Ebony magazine honored her as one of the 100 Most Influential Black Americans, and she received prestigious awards such as the Southern Christian Leadership Award for Progressive Leadership and the IBM Community Executive Program Award.

The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

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Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues

NNPA NEWSWIRE — Recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.
The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

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By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Tennessee State University (TSU), the state’s only public historically Black college and university (HBCU), faces a tumultuous future as Gov. Bill Lee dissolved its board, a move supported by racist conservatives and MAGA Republicans in the Tennessee General Assembly, who follow the lead of the twice-impeached, four-times indicted, alleged sexual predator former President Donald Trump. Educators and others have denounced the move as an attack on diversity, equity, and inclusion (DE&I) and a grave setback for higher education.

Critics argue that TSU’s purported financial mismanagement is a manufactured crisis rooted in decades of underinvestment by the state government. They’ve noted that it continues a trend by conservatives and the racist MAGA movement to eliminate opportunities for Blacks in education, corporate America, and the public sector.

Gevin Reynolds, a former speechwriter for Vice President Kamala Harris, emphasizes in an op-ed that TSU’s financial difficulties are not the result of university leadership because a recent audit found no evidence of fraud or malfeasance.

Reynolds noted that the disbanding of TSU’s board is not an isolated incident but part of a broader assault on DE&I initiatives nationwide. Ten states, including Tennessee, have enacted laws banning DE&I policies on college campuses, while governors appointing MAGA loyalists to university trustee positions further undermine efforts to promote inclusivity and equality.

Moreover, recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.

The actions echo historical efforts to suppress Black progress, reminiscent of the violent backlash against gains made during the Reconstruction era. President Joe Biden warned during an appearance in New York last month that Trump desires to bring the nation back to the 18th and 19th centuries – in other words, to see, among other things, African Americans back in the chains of slavery, women subservient to men without any say over their bodies, and all voting rights restricted to white men.

The parallels are stark, with white supremacist ideologies used to justify attacks on Black institutions and disenfranchise marginalized communities, Reynolds argued.

In response to these challenges, advocates stress the urgency of collective action to defend democracy and combat systemic racism. Understanding that attacks on institutions like TSU are symptomatic of broader threats to democratic norms, they call for increased civic engagement and voting at all levels of government.

The actions of people dedicated to upholding the principles of inclusivity, equity, and justice for all will determine the outcome of the ongoing fight for democracy, Reynolds noted. “We are in a war for our democracy, one whose outcome will be determined by every line on every ballot at every precinct,” he stated.

The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

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Braxton Haulcy and the Expansion of Walker|West Music Academy

May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …
The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.

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May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …

The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.

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