What’s all this talk about Credit?
There are so many things to think about when getting ready to move to the United States: where to live, how to get there, making friends and what you’ll need to buy. Have you thought about how you will get a local cell phone or open up a U.S. bank account? These are just a couple of things that require you to have credit.
When you’re planning a move to the US, learning about the credit system can eat away at the excitement of your amazing journey. We get it: it’s a boring and confusing topic. While learning how to get credit, you may experience the following side effects: anger, fear, hope, and calm. If it makes you feel better, even many individuals living in the States themselves are still confused about their own system.
What is Credit?
Credit in simplest terms is your ability to use borrowed funds or to access resources to secure a good or service. I know, still a bit wordy. At its core, credit is about trust. It allows you to rent an apartment, get credit cards, and purchase a mobile phone by showing that you’ve borrowed before and paid it back consistently.