ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Checking/savings account
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Debit card
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Paying with cash
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having a parent pay
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Detailed explanation-1: -One of the quickest and easiest ways to build credit is by becoming an authorized user on a family member’s or friend’s credit card. As an authorized user, you can piggyback off the primary account holder’s credit and as a result, establish your own credit history.
Detailed explanation-2: -Applicants aged 18 to 20 must have one of two things in order to be approved for a credit card: a cosigner (like a parent, guardian or other family members) or proof of employment or income.
Detailed explanation-3: -You generally have to be at least 18 to open your own credit card. That’s because before you turn 18, you’re typically too young to enter into contracts. That can include things like credit card agreements. And if you’re under 21, there might be some extra requirements to get your own credit card.
Detailed explanation-4: -Become an authorized user on a credit card. Consider a job. Get your own credit card. Keep track of your credit score. Make on time payments. Pay more than the minimum payment.