Living with credit, Protecting yourself

Old credit smarts, new credit smarts

Emily Crone

On this date in 1791, after much debate among America’s founding fathers, the first Bank of the United States opened in Philadelphia.

<p style=”MARGIN-RIGHT: 0px” p?=”” right

A 1986 photo of the First Bank of the United States in Philadelphia, which opened Dec. 12, 1791. The Classical Revival building, designed by Samuel Blodgett and James Windrim, is on the National Register of Historic Places and is the oldest surviving bank building in the U.S.Born from the financially creative mind of Alexander Hamilton, this central bank established the first national currency and the first mint, granted the young nation a depository for its money and gave it a place to get credit. The moves helped give the country, which was deeply in debt after the Revolutionary War, a solid financial base from which to build.

This week’s roundup of the best credit card posts from the blogosphere discuss how you can take back control of your finances and build (or maintain) a fantastic credit score.

1. Now that credit is tight, your loved ones who are unable to obtain credit elsewhere may come to you for a loan. Blueprint for Financial Prosperity explains the ground rules you should establish if you loan money to family and friends. This includes charging interest — especially if they have bad credit!


Alexander Hamilton, whose creative financial mind led to the establishment of the Bank of the United States, is remembered on the $10 bill2. The Dough Roller

lists seven important, but often forgotten, ways your credit score can affect your life, including obtaining insurance and getting a job.

3. The Wallet reminds readers that opting for the Web-based payment service  Bill Me Later can actually hurt your credit score when making a purchase online.

4. Get Out of Debt advises a reader who is struggling to get out of major debt, but wants to have a dream wedding, which would put her further into debt and most likely hurt her credit score. Perhaps she should consider a credit crunch wedding.

5. CreditBloggers stresses the importance of teaching credit card ins and outs to your children before they leave for college, and covers the eight basics you need to be sure to cover. One of the most important ones? Learn to ask for help if you’re buried too deep in debt.

An early bank note from the Bank of the United States. Image (c)

6. Geezeo lists eight ways you can improve a low credit score, including paying down your balances and inspecting your credit report for errors.

7. Don’t let yourself become a victim of identity theft; the thief’s purchases can ding your credit score if you don’t. Money Ning provides advice on using ATMs and debit cards safely.

See related:  Previous Emily’s lists: Walt Disney edition, Holiday shopping edition, Debt management edition, Female financial bloggers edition

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, we ask that you do not disclose confidential or personal information such as your bank account numbers, social security numbers, etc. Keep in mind that anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.