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  • #1

    Credit

    What are your thoughts?

    I'm an advocate for starting kids young and teaching them how important it is....I got a CC when I was 16 when I got my first job...max was ~$400 I believe and I paid it off in full every month

    Now, I'm 24, and my score is between 715-735 (nothing too special, but not terrible) depending on the report you're looking at, and I've never been turned down for anything

    Granted, you have to be extremely careful and be positive that your kid understands the danger and importance of a credit card....my sister is a monster...and my dad is paying for it

    I guess you could say that I might be the minority and she might be the majority, at least for high schoolers and college kids, but I'm extremely glad that I was taught how to use it as I was able to get approved for a mortgage on my own for substantially more than I was looking to spend
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  • #2
    Re: Credit

    My parents didn't teach me jack about money, and I have honestly always had issues with it until recently. However, in terms of credit I did great until I got married. I think it is a lot easier to maintain your credit while single. Once someone else starts having a bearing on it then it can be more difficult if both of your priorities aren't the same.

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    • #3
      Re: Credit

      My gf is more fiscally responsible than me, and has no debt

      that also doesn't help her get credit...I imagine if we were to stay together, and she'd get credit, that she'd probably keep me in line...which is a big plus

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      • #4
        Re: Credit

        I think it is always smart to teach kids about it, considering the credit card companies that prey on 18 year olds.

        The basics of being responsible with money should be taught waaaay before the age of 16.

        I have a respectable credit score, but I had no loan history when I went into get a car loan from my bank. I was almost turned away for a car loan when I had a decent paying job, with no debt and 2/3rds of the loan amount in cash in THEIR bank. Eventually, I got the bank manager to talk to their corporate offices to get me approved. It was a smart move on his part, because I'd have taken my business elsewhere in a hurry.

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        • #5
          Re: Credit

          Yeah, sorry, I should have clarified it...we had an allowance and "budget" growing up...but the credit discussion started around 16

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