According to Rudolph Clay:
"My first journey into the realm of financial literacy was my freshman spring. I learned about the existence of a "credit score" and how this one concept could play a role in all the major financial purchases I would make in the future. I grew up under the impression that credit was a bad term. I mean, after all, why would I borrow money to pay for something when I could just pay for it in cash?
Needless to say, this was the wrong way to think about credit. According to interest rates gathered by Informa Research Services:
Upon learning that "no credit" meant spending more money, I became fervent in my quest of learning EVERYTHING I could on the subject of building credit. This section is an accumulation of information I learned, and steps I followed while building my credit using my first credit card. It will include information about topics such as: understanding credit, building credit, what's a credit score and how to keep your credit score at a good number."