It is crucial to comprehend various aspects of credit card, loan, and banks. This is so because it determines the credit worthiness and informs individuals on how to earn more benefits. The three individuals from the bank gave as a lot of information pertaining credit score, credit controls, positive and negative effects of credit loan, student loans, and tips on credit card security. The speakers during the workshop had worked for different years in their entire career. The first on had worked for ten years, the second also has been in the field for approximately ten years, while the third speaker had worked for only one year. From their speech, credit score refers to a three-digit integer, which is generated based on the credit report. Some of the components of credit score include amount owed, payment history, new credit, credit history length, and various types of credit used. The speakers in the workshop talked on the outcomes of credit score. The credit score outcome varies depending on the variation of the payment period. In this scenario, the student loans can be given the same degree of prevalence to mortgages; therefore, the essentiality of it to make it work for students. In addition, the speakers also talked about the importance of obtaining a credit score that is high, this is because it brings about financial benefits. In this case, payment of credit is a crucial factor in determining the how high or low the credit score will be. The speakers could not conclude their speech without emphasizing the adherence of security issues on credit, credit card, and the social security number.
Practical application
In the real world, financial issues can be very difficult; hence, attaining financial account benefits calls more of skills, experience and information. Individuals are always in the run looking for information that will benefit them financially. The credit score information is crucial, in that it mostly depends with how an individual is credit worth. Lending institutions trust those individuals who borrow and pay their credit in time. The issues of credit worthiness are a practical situation that can apply to both those who seek for jobs. Credit score, and loan attainment play a big role in training people to be discipline, and skillful in handling various aspects of life. Practical application of credit score comes in terms of gaining trust from lending institutions. The information that we have pertaining the borrowing of credits and loans drives individuals to pay in time or earlier so as to increase their credit score and gain trust from the lending institutions. Being a student or an investor financial health is one of the important issues, since finance drives all aspects of human life. The workshop was of great importance since it imparted knowledge, skills and expertise on credit score, loans, credit securities, and financial benefit.
Personal impact
The workshop played a tremendous role in my life. Everybody in life wants to be successful financially. For example, in order to gain high credit score we should be ready to pay in time. In this case, as an individual I believe the workshop developed a sense of self-discipline and leadership to which I will apply in all aspects of life. Actually, credit score require personal management, whereby you plan to respond to loan and credit in time. It molded me to respond quickly to credit payment, to maximize my financial gain. The complexity of the globe today requires an individual that is all rounded, and discipline. Decision-making and goal attainment begins from an individual point of view, of which making the right decision will lead to attainment of goals. The workshop nurtured me on credit score, leadership, management, discipline and financial gain.
