What is Credit
What is Credit score?
How often you pay back your credit you spend. Higher is good
How a person can build and/or improve his/her credit score
Paying off credit on time and strategically
When it is a good idea to borrow (take on credit)?
When you are responsible and has a enough money to pay off her purchases
What impacts Credit?
Payment History, Amount Owed, Length of Credit History, Types of Credit Used, New Credit
How a person’s credit score determines his/her ability to borrow and at what interest rate?
A higher credit score shows you are more trusted when it comes to paying off a higher amount
How often to check a credit score and credit report and how to do so?
Check once every year from companies that watch over credit
What the consequences of having a thin file are?
Makes it difficult to access new credit when needed.
Why it is important to build a credit history from a young age and how to do so?
Because it tells businesses how responsible they are and if they trust them for costly things.