By: Jimmy Wade Period: 7/8
What is your credit worth?
Your credit is determined on 3 C's. Capital, Capacity, and Character. These three things can make you credit look good or bad, depending on your financial reliability. This information is comes from the Loan Applications and the Credit Bureau. The
Credit Bureau keeps a record of any bounced checks, if you have been sued, bankruptcy and so on. These things can hurt you in the long run and destroy your credit score.
Credit cards and keeping a good score
To obtain a good credit you must use a credit card. Once yo have one you can use it to make purchases on it. Ways to use credit cards to build your credit are..
- Paying back Debt
- Paying bills on time
- Keeping as little credit cards as possible