Anonymous OP 15w

you wouldn’t have a low credit score if you had no credit history; you would have none. your cousin done gone fucked up somewhere.

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Anonymous #2 15w

that is what we call 👏 CHARACTER 👏 DEVELOPMENT 👏 love that journey for you

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Anonymous #3 15w

This is true, he only found out about 6 months ago that he didn’t have a credit score. when he went to buy a car he had to have his parents co-sign. Now that he is looking to move out he has a score in the 300’s that could have been much higher if he had opened a card even just a year ago and made small purchases on it

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Anonymous #2 15w

If you cannot trust yourself yes. But also building credit is important for the day you go to buy a car, house, phone, apartment. I love that you recognize that it would be a problem for you that’s a good financial literacy step. But perhaps talk to her about having one that she keeps on her person and you can make 1-2 small purchases a month on with her approval.

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Anonymous OP 15w

yeah the score doesn’t start low and work its way up; it’s that way bc he hasn’t made his payments

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Anonymous #4 15w

Good luck moving out getting an apartment, a mortgage, buying a car or anything that requires a loan without a co-signer then. Not everyone has a good relationship with their parents. And not everyone’s parents have good credit to co-sign. You don’t want to be in a financial situation where you can’t move or purchase a car, or be stuck with high interest rates because you have no credit history.

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usually debts like that have to go all the way to collections after you’ve had multiple notices. or else that could’ve been a timing coincidence.

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Anonymous #3 15w

It doesn’t start high either. And being older starting your credit history affects it as well.

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Anonymous #1 15w

This the amount of people I know who are in stuck in financial situations because they are “scared” of credit cards is scary. Haveing a well established history and not having late payments are the MOST IMPORTANT. Don’t be scared bc it’s a debt that you owe. Treat the card as a debit card and pay it off after using it rather than treating it as having access to money you don’t have and you’ll set yourself up for success.

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Anonymous #3 15w

Can also mean that his parents who co signed don’t have amazing credit either. Not everyone can rely on their parents. I’d rather build a solid credit score now than be stuck asking my parents to co-sign on an apartment. That’s what’s great about college for a lot of people having student loans and a credit card you pay every month builds 4 years of credit that will benefit you once you graduate.

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Yup any sort of debt that you own that is on record with a bank or other financial institution, or via contract with another company affects your credit. Lots of people just think credit score=credit card. Which is why financial literacy is so important.

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Anonymous OP 15w

I’m 26 now, didn’t get a card until last year, and move pretty regularly for work. It’s a good option for many people, but to act like a credit card is an absolute necessity isn’t accurate. It’s a predatory industry, and for many who struggle with executive function or financial percarity, it’s really easy to get into a really bad and permanently detrimental situation and end up with not only bad credit that will bar you even more from all of the things you listed, but a burden of debt.

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Anonymous #7 15w

A lot of banks offer college student credit cards that don’t require a source of income bc your job is a student. They’ll often give you a small limit usually $300. And once you report a source of income via taxes your limit will increase. Even if you just buy gas or something small each month it helps establish a history!

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Anonymous #6 15w

If you treat it as a regular debit card and pay it off after using it I promise it’s not scary! I know the idea of debt is bad, but use it for something small each month (gas, groceries) it doesn’t have to be multiple purchases. Set a reminder on your phone to pay it off when you use it.

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Anonymous #4 15w

I agree that there are MANY reasons not to get a credit card and for some it can lead to bad habits. But to be approved for house loans, car loans, apartments, lower interest rates, later in life it is a necessary evil. Research what is best for YOU.

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Anonymous #8 15w

Amazing! This is what I’m talking about 23 with a 758! Got my first cc at 20 wish I would have gotten it earlier!

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Anonymous #11 15w

No you wouldn’t

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Anonymous OP 15w

but like i can’t pay off what i’ll owe cuz i have no money 😭

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