If your son or daughter is heading to college this fall, both you and your child most likely have a lot on your mind – finances, meeting new people, choosing a major, and more. With all of these conversations happening, it’s a great time to talk with your child about the basics of budgeting, establishing credit, and opening a free checking account.
A credit score is a concept that most consumers don’t fully understand and often don’t realize it is used more than just by financial institutions. Understanding what a credit score is and how it is used can be extremely important. It is also important to understand the difference between a credit report and a credit score.