Friday, January 11, 2013
Hey kids, here's how to build your credit score. BTW - avoid the Bieber Card!
This week credit expert John Ulzheimer wrote an outstanding piece to high school kids explaining the most effective way to build a credit score. John is clearly one of America's leading credit experts. He is commonly relied on by FOX News, the New York Times, and other major media outlets when they need an expert opinion for a credit story. Here is an excerpt of his piece...
Happy Birthday, you’ve just turned 18. Maybe you got a car for your birthday. Maybe your parents are throwing you a great party. Whatever your gift happens to be, it’s unlikely that you’re thinking about your credit scores…although you should be. Now that you’re 18 you’re what I refer to as “fair game”, which means lenders can ramp up their attempts to get you to start a relationship with them. That “relationship” can be to take out a credit card, open a small credit building loan or something else. Regardless, you’re about to become “in the system” and doing it the right way will pay dividends for the better part of the rest of your life.