How to Build Credit After High School?
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'•A POST FROM•'-
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Never understood credit or how credit works for dummies? Some videos and explanations may be confusing.
Credit can be seen as in
The video has a vault that glows and shines with more added light features.
This is how credit works.
⎯ The more light you add to your payment portfolio the more legitimate spending capable you are seen.
If you are seen as a good spender, things that take longer to pay for are offered to you for a spendable price negotiation which allows you to spend money on other things throughout life.
Spending money on multiple things at once is a management skill. Once you master your current management of money, you will have your budget.
If you are not seen as a capable spender, you may not always get the luxury of managing easier payments.
You may not always manage a budget.
Eventually… (the more light you add onto your portfolio) your spending capability becomes bright
-by the more successful months you pay into your “payment portfolio. “
Another way to see the credit cycle is as an adult milestone after turning 18 years old or 21 years of age, (even 24 for some that want to focus on education before financing) .
After 18 you are legally able to have a credit of money authorized to your “payment portfolio” or more formally, your credit report in which paying issuers will credit you about $600 in starting to which they will report what amount was spent and paid back by you.
Spend $200-$450 of the credit in any amount of time and pay the issuer before the month cycle is complete.
If the issuer is a valid reporter to the credit bureau …
(beware of fake credit card scams in the mail and online)
-Many valid credit card issuers are found through banks or name brand officials.
They will report your payment as great standing to 3 main credit reporters who will give a score that is factored by many factors but definitely the amount of time you have your credit portfolio and any completed loans you have repayed.
after a few your credit score will increase, however after about 4 years is when the time factors start to become more important to increase this score.
It’s best to start early, and artificial.
Find credit line for a low starting price, and only purchase technology products or shop online.
Some credit card have limits on what you can purchase.
The most important thing is to pay every month and for years to build your credit.
And join us here at Ai-HQ to help develop managing skills.