What is Credit? First of all, credit is what, fortunately or unfortunately, limits or propels people in their ability to get credit cards and loans, increase credit or loan limits, buy or rent a home or vehicle, and even your affect your ability to get a job! Young People (age when one generally starts working or is able to provide for themselves and move out of the house) Many "Young People" have NO CREDIT, which, oddly, is worse than having BAD CREDIT. People in this group typically start with a secured credit card or need a co-signer. A Secured Credit Card ...is a card that you put your money on and then spend from. So you are the one who is essentially providing the funds and the limit. This prevents you from spending more than you can afford. A secured credit card reports the spending information associated with your card to the major credit bureaus every month, unlike the unsecured cards. This...
