Matthew Gupton
Financial Literacy
7/5/2018
Credit Saved or Destroyed them
For this assignment I have chosen to tell how John Smith’s credit effected his quality of
life. Johns started his credit in college opening a credit card to establish his credit. John
maintained this credit card for about ten years only using the card for emergencies and using
cash for purchases. Using this credit card for emergencies only allowed John to, in the future
access credit more easily for his loans on car payments and his house mortgage. Having good
credit was very important to John as he had seen how opening too many credit cards leads to a
high level of debt and stress in one’s life. Therefore, he stayed very conservative and kept his use
of credit to a minimum. This allowed John to not have to worry about paying back large amounts
of credit card debt and focus on big transactions as he got older. Johns high level of attention to
his credit score has done him justice, having never been denied for a loan and keeping his car