During the presentation on Thursday night, credit was the topic of discussion. The speaker worked with Regions Bank and discussed the importance of building credit as a young, college student. He talked about the dangers of ruining credit by paying bills late and applying for too many credit cards. He also listed the six ways to kill your credit score. Among these were careless spending and not paying credit cards on time. The speaker also made an interesting point: he said that if there is a co-signer on the account, the credit card does not build credit.
My executive mentor basically just restated what the guest speaker was saying. My mentor said to be smart about spending on a credit card and to only spend the amount of money we actually have.
The bar graph above shows the increase in credit score as people get older. The younger a person is, the lower his or her credit is and this is exactly what this graph is showing.
