Unit 6 project
Stage 2: College students/ Young full time workers
What these college students need to about credit is that it is buy now pay later. At the end of every month you must pay back all the money you used plus interest. Not paying your credit card bill or paying it late can often cause you to be in debt and decrease your credit score. Paying any bills late can have a negative effect on your credit score. Having a bad or poor credit score will decrease your chances in getting loans with low interest rates. A way to start with a good credit score is to get a small loan and put the borrowed money in a savings account. Then give the loaned money back on time. This is how you build character.