Credit Comic Part 1-6

I can’t believe how high my student loan debt is…I’m only 20! And I don’t even spend that much! What do I do, Elaine?
There, there, Alice. Sometimes loans are necessary, you know? But maybe you can help it with the benefits of a credit card. You do have a credit card, don’t you?
Of course I do. My mom made me get one a long time ago, with her as a cosigner. It’s what I’m using to pay off this debt. My parents always handled it for me though, I don’t really understand it…
Okay, I’ll just show you! Just pull up the website for your credit card.
Okay. It says here that your card has a 0% APR in the first year then rises to 13% to 20% based on creditworthiness. This means that percentage of your balance will be charged as interest every year. Wow, that’s pretty good for a first card.
Creditworthiness? Am I worthy of owning a credit card?
No, no, this refers to your credit score. It’s basically a number grade on how good your credit history is. Now, it says your credit card has the benefit of showing it to you every month with a report. So what did it say?
Yeah, that’s pretty good! You only have one credit card from a few years ago, right? That’s good, it’s best to start early to build credit!
Oh, so that’s what the number meant! Um, I think it was 690. Is that good?

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