When you graduate high school you will start to get credit card offers. Resist the urge. Credit can be built up or ruined. If you have any plans of buying a house or starting a business, you need to know how to build your personal as well as how to build your business credit profile. Credit is a strange animal. Lenders from credit card agencies to banks want to extend you credit. Their goal is for them to make money with the interest you pay. As long as you make the minimum payments on a credit card, you will keep the credit card agency happy. However, you are just throwing away money doing that.
You should use credit wisely. Continue reading