I would advise your friend to start building their credit as soon as possible by opening a secured credit card or becoming an authorized user on a family member’s credit card. This will help them establish a credit history and improve their credit score. Additionally, they should make sure to pay all their bills on time, as timely payments are crucial for maintaining good credit. Finally, it’s wise to keep their credit utilization low—ideally below 30% of their credit limit—so they appear responsible to future lenders when they apply for their car loan.
Imagine a friend tells you they are planning to buy their first car as soon as they graduate and get a job. They know they will need credit to get the car they want.
What advice would you give to your friend for establishing and maintaining credit between now and then? Include at least three details from the text in your response. in 3-5 sentences
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