personqal financial literacy

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  • mom how is a credit card different from a debit card.
  • hey son we have decided to make you your own credit card account but you have to be a responsible person and control your purchases and make a good credit score such as in the range of 300-850, your credit score should be at least 750 or above
  • Son, Debit cards and credit cards are accepted at the same places and they both offer convenience but the fundamental difference between a debit card and a credit card account is where the cards pull the money. A debit card takes it from your banking account and a credit card charges it to your line of credit.
  • son, do you know that we can use credit or debit cards for online banking, so you can purchase something online in just some seconds and I'm deciding to buy you one in some months, so you would be more responsible person
  • yes, dad I know that mom once said me that some days ago and she also said that we can get credit cards on someone's responsibility like parents, so if we fail to pay our debts, the responsible person would have to take our debts on themselves.
  • mom I need to make my own credit card account for all my expenses in emergency situations when I don't have money with me.
  • so, I m gonna be his cosigner And we are gonna make an account for him, so that he can become a more responsible person and he will have to try his best to pay his bills
  • but you are too small to maintain your credit score and report positively and you can be in huge debt if you are not able to use your account correctly. so, me and your father would think about it.
  • so mom are you, gonna be my cosigner who takes responsibility of all my credits and debts. then I have to take care of my balance and payments because it can affect your credit score and reports, if I don't pay my payments on time.
  • so, sir what is the APR for the card and does it has annual membership charges. and Can you explain me how is your company different from other companies
  • our company provides credit cards charge free and out APR IS 5% which is way lower then other companies APR. out company has many other profits such as less interests on credits, and it doesn't have annual membership charges too.
  • you have nice thoughts mam and I will wish he will become a very responsible person and comes out to be one of out best punctual customer. Now I have made his new account and thank you very much, have a nice day, bbie.
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