Easy Ways Young People Can Start Building a Healthy Credit Score

Oh, what fun it is to be young and carefree! But wait, hold on, I think life has other plans and you need to be prepared for it from the start. You might have never heard of a Credit Score and you might think it doesn’t apply to you, only adults need to worry about it but you are sadly mistaken. A credit score is the reason why you are able to get loans and credit cards for yourself and so it is crucial to keep a good credit score from the start.

Here are a few ways in which you can start building your credit score from early on:

Apply to become an Authorized User

If you can’t get your own credit card then the next best thing for you will be to become an authorized user in your parents’ credit card. This basically means that you would be issued another credit card from their account which you can utilize for your own purposes. This way you can use their credit score and they can also help you in teaching how to maintain your Credit Card balance.

Get your own Credit Card

One of the best ways to build your credit score would be by getting your own credit card. Once you get old enough or have enough credits, you can apply for a credit card and use it to build your credit score. A credit card utilization can greatly boost your score if used wisely, if not then it could actually cause more harm than good. Always make sure that you pay your credit card bills every month and avoid making late payments or skipping installments altogether, it would really hurt your score.

Pay your bills and dues on time

Now even though you might not have long standing loans or debts, paying off your small bills is important too. You might think that what does it matter if you clear you phone bill or rent on time or not, but your credit report keeps a track of all your bills and collections (Source: CreditRepairXP.com) and if you don’t pay them regularly, then they could come back and haunt you later. So always make it a point to clear all kinds of bills on time.

Don’t get too many credit cards

Do not pile yourself with a bundle of credit cards. Getting one or two is more than enough. If you have too many credit cards, you would need to keep a good credit score on each account which might become a lot of work. You would need to keep a constant check on your credit card usage and if any of your cards crosses the 60% mark, it would be a sad day for your credit score.

Gain more knowledge about Credits

The best way to start building your credit score would be to read about credits and gain more information about it. Learn what could affect your score positively and what you should avoid doing and become better prepared. This will surely help you in keeping your credit score high in the long run.

Debt Management

Debt management is an essential element of financial planning. Make a note of your streams of revenue and incomes generated from the various investments. Sometimes it becomes imperative that we take loans, since this helps us to save tax. For example mortgage payments give benefits in tax planning. However the interest payments are real and must be accounted from the income that you have.

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Thus make sure that you have the income to repay the debts. Normally a bigger down payment will mean that you have to make smaller interest payments. The opposite is true where there would be larger interest payments if the down payment were large. Interest payments vary according to the period that the debt will run. Too short a period and the interest payments will burn a hole. Too long a period and the interest payments can become bothersome. Therefore the period should be such that it benefits you.

If the interest rates go higher, then the lending agency will increase the time period to recover the costs of interest rates. if they go lower, they may not revise the same rates downward. This is because in any circumstances, they need to make profits. However you can negotiate for lower rates with the lending agency, if you know that the interest rates have fallen. This can save you precious dollars, which is very important.

In fact lower refinance rates and mortgage rates can also be negotiated with the lending agency. The better your debt management, the better credit rating that you would have. This will ensure that you are able to take debts in the future. There will be positive credit rating against your name. If you repay old debts, then you should intimate this to the credit bureaus, as it will increase your credit rating. You can obtain your credit report from the credit bureaus by simply paying a small fee.

Ascendiant Capital Initiates Coverage on MGM Resorts at Buy

In a report published today Ascendiant Capital Markets Initiated Coverage on MGM Resorts (MGM) with a Buy rating and a 12 month price target of $33.

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“Buy rating is based on our valuation metrics, improving Las Vegas environment, Cotai & Maryland projects for 2016, deleveraging of its balance sheet and other expansion opportunities globally in the out years” Ascendiant Capital said in a note to clients

“Valuation driven by blended DCF, EV/EBITDA & PMV valuation tools yield a $33.00 price target. As new projects (Cotai and Maryland) draw closer, expect further valuation expansion. We do not see $33.00 as a terminal valuation target for MGM as financial dynamics and growth opportunities can provide a positive driver to the company’s valuation grid” it added

Shares of MGM Resorts (MGM) closed at $28.39 on Thursday.

Macquarie Upgrades JP Morgan to Outperform

In a report published today, Macquarie upgraded shares of JPMorgan Chase (JPM) to Outperform from Neutral and raised the price target to $68.00 from $62.00.

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“Investors wanting to incorporate a thesis of improving US and European economies and increasing short-term interest rates may find it very challenging to find new ideas in the bank space, especially for liquid names with attractive valuations. Large regional banks are trading north of 12x 2015E, equating to 84% of the S&P multiple, well above the historical relative multiple of 77%” Macquarie said

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“Moreover, larger domestic plays such as BAC & WFC also appear rich, trading at 11.5x and 12.4x, respectively. As a result, we are upgrading the shares to Outperform from Neutral, as we believe JPM may benefit from a sector rotation as one of the cheapest ways to play this theme.” it added

“At 9.7x 2015E, JPM is one of the cheapest names in our entire bank coverage and trades at an 8% discount to universal peers. JPM has more visible earnings and reports peer-leading ROTCE. While fundamentals are closer to normalized, JPM should benefit from higher rates and improved US & European economies” it noted

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Shares of JPMorgan Chase (JPM) closed at $60.66 on Thursday

UBS Upgrades Cornerstone OnDemand to Buy

Research analysts at UBS have upgraded their rating on Cornerstone OnDemand, Inc (CSOD) from Neutral to Buy and reiterated their price target at $60, suggesting 53 percent upside.

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“CSOD stock is down 26% YTD and 36% from its 52-wk high ($61.85 intraday on 2/28). We think pressure is due to 2 reasons: (1) sector-wide retreat since Feb. for highmultiple, high-growth software names; and (2) another covering analyst lowering ests. to about the consensus mean. In contrast to the recent stock volatility, fundamentals appear unchanged other than for typical Q1 seasonality.” UBS said

“CSOD continues to have leading mindshare with HR buyers as a pure-play SaaS talent management vendor. We believe the recent downdraft creates attractive opportunity to own a top tier SaaS story with est. 2014 rev growth of 45%+ (nearly 2x SaaS median of 24%) for a very reasonable multiple.” it added

Shares of Cornerstone OnDemand, Inc (CSOD) closed at $39.31 on Thursday.

Raymond James Upgrades Netflix to Outperform

Research analysts at Raymond James have upgraded their rating on Netflix (NFLX) from Market Perform to Outperform and set a price target of $450, suggesting 29 percent upside.

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“Netflix continues to demonstrate solid domestic growth and accelerating international growth – while domestic is ~3x the size of international today, Netflix expects international to be larger longer-term. We believe Netflix can reach ~ 55 million long-term domestic subs and 60 million plus international subs.” Raymond James said in a note to clients

“domestic streaming margins increased 460 bp y/y (driven by lower marketing and content cost leverage) while Netflix noted international is on a trajectory to reach profitability this year in its currently launched markets” it added

“Netflix will begin increasing prices for new members in 2Q by a modest $1-$2 and existing members will stay at current prices for a “generous” time period – we believe price increases will enable Netflix to continue to invest in higher quality content (i.e., House of Cards) and thus attract more users” it said

Shares of Netflix (NFLX) closed at $348.49 on Monday.

Jefferies Upgrades athenahealth, Inc to Hold

Research analysts at Jefferies have upgraded their rating on athenahealth, Inc (ATHN) from Underperform to Hold. Analyst David Windley also revised the stock’s price target up from $135 to $145.

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“We think the bull case over-estimates the margin potential, and we remain cautious enough not to recommend buying. However, we also don’t think investors should look a -30% “gift horse” in the mouth. Even 1Q’s shaky results may be overwhelmed by the inpatient market opportunity and formalized Coordinator Enterprise partnerships to pursue it.” Jefferies said in a note to clients

“We believe that the sell-off from early-March through mid-April is sobering enough to prevent a rapid return to $200. On the other hand, we don’t expect the market to suddenly focus intensively on ATHN’s near-term profit performance (which hasn’t been strong), either. We wouldn’t be surprised by some selling pressure in ATHN on Monday. The results were sloppy. However, we would be surprised if it closed below the $135 recent low” it added

Shares of athenahealth, Inc (ATHN) closed at $145.58 on Thursday.