I'm about to go out into the world. I need to talk to somebody about finances. More specifically my credit.
Hi I'm Andruw. Can you tell me what I need to know about credit? Like credit history, credit score, credit cards amd all that good stuff.
Sure thing. The first thing you need to know about credit is that a good credit history and can't be built over night.
If and when you use your credit you use credit, you need to make sure that you pay the exact amount and on time. This will make your credit score good and your history. It can also make you more credible for a future loan.
What in the world is a credit score?
A credit score is a numerical summary of your credit history that indicates your credit worthiness. You can think of it as a grade for how responsibly you’ve managed loans, lines of credit and other financial spending over the years.
What is a credit card and how do I get one?
You can get one by applying at the credit company at the bank. If you get accepted the bank will give you an agreed limit, terms and conditions. Make sure to make the payments and on time.
A credit card is a plastic card that you can use to access a line of credit that has been established in advance.
Okay, thank you for your time. I now understand how to obtain a credit card and what to do and what not to do.
No problem son. If you have any questions, you know where ill be. Just stay in contact.
I'm gonna go talk to my family about a credit card. I like the idea of having some extra money to get what I want but I gotta be smart about my expenses and weigh out what I need and what I want.