QUESTION OF THE DAY: How long does it take to establish your first credit score?

ARTICLE: Why It Is Important To Establish Credit While You’re Young
Your credit report can have a significant impact on what happens when you make various financial decisions. Read the section titled “Why should young people care about their credit score?”

VIDEO: How to Start Building Credit from Scratch
You need experience with credit in order to build your score, but in many cases you need a good score to access credit. So how do you get started? Watch the video to learn more.

LEARNING TARGETS:

• I can explain how long it takes to establish a credit score.
• I can analyze reasons why it’s important to establish credit early in life.
• I can identify strategies to start building credit.
• I can compare the impact of different credit scores when taking out different types of loans.