While borrower continues reducing his obligation through periodical repayments, credit history automatically improves. Tip: If you are a teenager, it is important to understand that once your name is on a credit card or debit card, you are beginning to build up a credit history that will follow you for decades. These citizens are deemed as high risk borrowers and most of the banks or financial institutes are hesitant to lend them money.
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While borrower continues reducing his obligation through periodical repayments, credit history
automatically improves. Tip: If you are a teenager, it
is important to understand that once your name is on a credit
card or debit card, you are beginning to build up a credit history that will follow
you for decades. These citizens are deemed as high risk borrowers and
most of the banks or financial institutes are hesitant to lend them money.
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