Course: What is credit?
Whose advice should she take?
Choose an adventure:
ADVENTURE 1
Meredith talks with her father
Avoid borrowing at all costs
Meredith’s father believes that credit brings ruin. Because of his advice, she has never had a credit card or taken out a loan.
Meredith talks with a banker and finds out she can’t get a loan because she has no credit history. But her father’s voice is loud in her ears.
She drags her feet on establishing credit and avoids a conversation with her bosses about buying their shop. They eventually sell the space to a coffee chain, and Meredith decides to find a new job.
ADVENTURE 2
Meredith talks with Aunt Nan
Borrow, but have a plan in place
Meredith’s Aunt Nan has always been ahead of her time. She worked in finance, saving money and using her connections with bankers to get loans to buy real estate when the market was right. She eventually got her real estate license and leases out multiple residential and commercial properties.
She helps Meredith put together a plan to establish credit and increase her score. They do the math on the coffee shop and work out an agreement with the owners.
Two years later, Meredith gets a loan that helps her become the proud owner of Sweet M’s Mocha House, and business is good.