blue
They open their first credit card at age 18. They spend ~$300/month. They pay their balance in full every month. They keep their utilization under 30% (most student cards have $500–$1,500 limits). No late payments, no other credit accounts. Where would an 18-year-old’s credit score be after 6 months of perfect credit card use? Come within 30.
700.
An 18 year old student made a payment 30 days late. On average, what happened to their credit score? Come within 15
85 point drop.
Student kept credit utilization at 20% for 3 months. On average, what happened to their credit score? Come within 10.
10.
“It takes years to build a reputation and seconds to destroy it.” - Warren Buffett
Student closes their oldest account. On average, what happened to their credit score? Come within 15 points.
- 15 points
Student paid their card in full for 6 straight months. What happened to their credit score? Come within 15 points.
+25 points.