Building a strong credit file (by making timely payments)when you in college and beginning your career is
A) unwise as you will have to pay interest on the deferred amounts.
B) wise so that when you are ready to make major purchases like a car and a home, you can obtain favorable interest rates.
C) unwise; only buy what you can afford to pay cash for.
D) Both A and C are correct.

Question

Quizplus · Accepted Answer

Building a strong credit file by making timely payments can help you obtain favorable interest rates when you're ready to make major purchases like a car and a home. This can save you a significant amount of money in the long run. While it's important to avoid accumulating high levels of debt and paying interest, having a strong credit score can be beneficial in the future.

Building a Strong Credit File (By Making Timely Payments)when You