Advice for Teens on Credit
Advice for Teens on Credit Anyone who wants to apply for a credit card, car loan, apartment, or other type of loan must have good credit. Teenagers will benefit later on by learning how to build credit now. The most essential credit advice for teens to know is what determines a credit score, how to read a credit report, what credit history is, and how to build credit. A credit report is what? A credit report contains information about a person's credit history from banks, credit card companies, collection agencies, and even the government. Chip Griffith, senior vice president of retail sales and operations for OneAZ Credit Union in Phoenix, stated that "your credit report offers potential lenders and creditors a summary of your credit history." In your credit report, you'll find details like the name of the creditor, the kind of credit (like a car loan or credit card), the date the credit was issued, the credit limit, the total amount of the debt at the time of repor...