I’m so thankful I had the opportunity to attend the #PushMoneyMatters workshop yesterday. I arrived early, and took part in the morning forum led by Reverend Jesse Jackson Sr. Corey Mays gave an uplifting speech highlighting his transition from a professional NFL linebacker to Angel Investing, Economic Development, and Sports Journalism.
Mr. Cheeks kicked off the workshop by debunking credit myths. We walked away understanding interest, APR, compounding, soft inquiries, hard inquiries, and credit reports. He even walked us through examples of how late payments, and bankruptcy effect our credit score.
- When you marry, your credit report stays the same unless you open join accounts or become an authorized user.
- Pre-approved offers don’t impact your credit score negatively.
- Debit cards are convenient but they do no build credit.
- Store cards usually have higher interest rates and lower limits than general purpose credit cards.
- If you utilize more than 30% of the credit limit available, your credit score will be downgraded.
I am still in awe of the fact that this workshop was made available to the community free of charge thanks to Chevrolet and Rainbow Push Coalition. It was wonderful to see a room filled with multiple generations all pushing towards financial literacy. I especially take pleasure in knowing the next generation is better equipped to #FindNewRoads to navigate the world of finance.
As always thank you for reading, commenting, and liking!
P.S. This post was sponsored by Chevrolet, and the Rainbow Push Coalition. However, all opinions are my own.