RBC I In recognition of the National Get Smart About Credit Campaign, First National Bank of the Rockies (FNBR) urges its customers to educate themselves on responsible credit habits.
“No matter your age or financial stance, it’s never too early to get smart about credit,” said Pete Waller, FNBR chairman, president and CEO. “Learning the basic fundamentals of credit provides customers with a foundation that will prove invaluable throughout their lives.”
FNBR encourages customers to follow these “Dos and Don’ts of Credit”:
n Do pay at least the minimum due and contact your creditor if you have trouble making payments. This will help you to avoid late fees and a rising APR. To pay off your balance quicker, pay more than the minimum due. If you are unable to make the minimum monthly payments, let your creditor know so they can work with you to create a more manageable payment plan.
n Do 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 thing that can fix a credit report is time and a positive payment history.
n Do 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.
n Don’t feel pressure to get a credit card. If you don’t want one, you have the right to say “no.” Under the new CARD Act 2009 consumers aged 18-21 cannot be solicited for credit. If you no longer wish to receive prescreened offers, opt out by calling 1-888-5-OPTOUT (1-888-567-8688) or visit www.optoutprescreen.com.
n Don’t ignore the warning signs of credit trouble. If you pay only the minimum balance, pay late, use cash-advances to fund daily living expenses or transfer a lot of balances you might be in the credit danger zone. Talk to a financial counseling organization to regain control of your finances.
DON’T 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 www.ftc.gov/idtheft.
About First National Bank of the Rockies
First National Bank of the Rockies was originally established in 1904 as The First National Bank of Meeker. Today, the bank serves customers throughout western Colorado with locations in Craig, Grand Junction, Hayden, Meeker, Oak Creek, Rangely and Steamboat Springs. FNBR is a bank founded in the belief that it is the financial bedrock of the communities it serves and has a fundamental obligation to maintain financial stability, promote financial literacy, and invest in ways that makes the community a better place to live. Combining strong local ownership with traditional Western values and leading edge technology, First National Bank of the Rockies is well into its second century of service with an unwavering commitment to being “Your Bank.” For more information about FNBR, visit www.fnbrockies.com.