Checkina account first step toward credit rating
Opening a checking account may be the
first step to establishing yourself as a good
credit risk with a high credit rating.
Most UNL students , do not fit the
description of the "ideal credit risk,"
according to Ken Opp, manager of the
Lincoln Credit Bureau.
Opp said the "ideal credit risk" is over 25
years old, married, owns his own home, has
had the same job for two years and has no
record of bad credit. A person who fits this
description can open credit accounts and get
loans, he said.
. One way to begin a credit rating, according
to' Opp, is to open a checking account. The
check is actually, a note that says you will
.provide the money and is a fundamental
credit account, he said.
The most difficult type of credit to get is
from the large credit card firms such as
MasterCharge, and Bank Americard, and
Sears and Penney's credit cards, Opp said.
It is easier to get credit from local
merchants. "The local merchant is anxious to
givecredit if you can qualify," he said.
"bach company has its own criteria for
opening a credit account, but I have never
heard of them turning down anyone who
meets the qualifications." The student has
the same opportunity to establish credit as
anyone else, he said.
When a person applies for credit, he
provides identification and a personal history
to the company.
The company will then go to a credit
bureau and obtain a more complete view of
. the applicant's paying habits, Opp said.
Accordina to Opp. the credit bureau
provides companies with personal
and the applicant's credit history.
information given to the company
public records he said.
According to Opp, the credit bureau
history
All the
is from
'does
not use subjective terms, but provides factual
untormation to the companies."
I Opp compared the credit bureau to a
'library that is open only to credit people as
defined in the Fair Credit Reporting Act of
1970.
The Fair Credit Reporting Act governs all
credit bureaus. The information a credit
bureau can provide is limited to firms under
.contract with the bureau. The amount of time
bad credit information can be supplied is
limited to seven years. The Act was designed
to protect the privacy of the individual, Opp
said.
If a person Is refused credit, a company is
required by law to say why credit was
refused, Opp said.
If the company made its credit rejection
based on information obtained from a credit
bureau, the company must tell the applicant
the name and address of the credit bureau,
he said.
The applicant has 30 days in which he can
contact the credit bureau to find out why his
credit was rejected. -
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You see, we've discovered a new collection of
sound systems by a new firm: Mertton. And
we're impressed. So much so that plans are
under way to install a permanent Meriton
sound center in our store.
As a preview, we're offering Meriton's
HF-2000SP-200. A sleek, remarkably
compact component style FM stereoFMAM
receiver and turntable system. An you can
see, the styling is modern, k;...ti ;ring brushed
chrome and walnut cabinetry, But it's not
what you see that's important.
Mow, we can quote features and
specifications. Like a solid state amplifier for
resonant sound. OTLITL circuit to eliminate
distortion. Tone control that increases bass,
decreases treble. Tuner with high degree of
selectivity. Illuminated tuning bar. Professional
style turntable. Tubular tone arm with
automatic return and shut-off. Viscous
cuing, ceramic cartridge. Wide range
speakers housed in acoustically matched
walnut veneer hardwood cabinets. Hinged
dust cover. But, the proof is In the listening.
That's what Mer iton is all about. Listening.
Their audio systems have been engineered
to satisfy the most sensitive testing
equipment around. Your ears. We Invite you
to test the HF-2000 in our store. The more
you trust your ears, the more we think you'll
like it.
Meriton HF-2000SP-200. $239.95.
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Trust your ears.
lower level
eorasKQ union
Wednesday, October 30, 1974
daily nebraskan
pageS
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