Facts about Credit Score/Reports
By 18acorn, Updated
Comic for Mrs. McCall
First things first, let's take a look at your credit.
I'm here to get a loan for a car.
Well, you see ma'am. Credit is something you earn through the bank and depending on how reliable you are is how good your score is.
What is credit? I just want a loan.
You have to have credit in order to take out a loan, otherwise, why would the bank trust you.
Still... What does this have to do with me?
The bank will issue you a credit card to use. You use it to build credit, but remember, this isn't like a debit card. You have to pay us back. Paying us back on time is what builds good credit.
Okay I get it. How do I built credit?
Well, there are many free websites online, but you are entitled to a free credit report from each of the three credit report agencies through the bank. They are Equifax, Experian, and TransUnion.
Ok, how do I know what my credit score is?
Well you're all set to go ma'am
Haha, I sure am glad I did!
Now I regret not taking that personal finance class in high school
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