Yesterday, I went to the DMV to update my ID, and the lady asked for all of my pages of identification to prove that it's actually me.
Honestly, I didn't know what that was at first either, but a paycheck stub is the paper or online record that comes along with your paycheck.
So I handed everything that I thought I needed to her, when she looked at me in the eye and said, Where's your paycheck stub?
Your paycheck stub has information like how much money you earned, what was deducted, and what you actually got paid.
And I'm like... what even is a paycheck stub? I'm 23.
Glisser: 2
Don't worry, I can help you. Your credit score is basically a number between 300 and 850 that shows how responsible you are with borrowing money. While credit history is a record of how good you are at lending and paying back money. Your credit history directly impacts your credit score.
See, nobody ever teaches us this! Thank you, that makes a lot more sense. I just feel like I don't know anything about Finance or being an adult.
Like, my cousin started talking about credit scores and credit history the other day, and I just nodded and pretended to know what he was talking about.
Glisser: 3
Of course not! You can improve your credit score over time with consistent payments.
Okay, so if I have a bad credit card score, does that mean I can never buy a car or get an apartment?
However, a bad credit score might make loans more expensive because lenders might charge you higher interest rates, which is basically just extra money you pay when you borrow money.
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