Money Management For Kids: 3 Tips To Build Your Credit Score

Danielle from First Interstate Bank explains credit scores, a three-digit number indicating creditworthiness. A higher score offers more financial options. To build your score, consult a banker and follow three steps: pay bills on time, use only 30% of available credit, and maintain a long credit history. A high score benefits not just loans and credit cards but also employment and rental opportunities. The video emphasizes the significant impact of credit scores on financial life.

What is a credit score primarily used to determine?

• A person's age

• A person's education level

• A person's creditworthiness

• A person's income level

Which action is most crucial for improving your credit score?

• Paying bills on time

• Opening multiple credit accounts

• Using all available credit

• Closing old credit accounts

What percentage of your available credit is it recommended to use?

• 50%

• 70%

• 30%

• 90%

Why is having a longer credit history beneficial?

• It suggests you have a higher income

• It means you have more credit cards

• It indicates you are less of a risk

• It shows you have more money

How can a high credit score affect your job prospects?

• It has no effect

• It makes you less desirable

• It makes you more desirable

• It guarantees a job