Cna someone help me with decisions regarding credit?

Question

So I am in a bit of a tight spot with money right now and I work quite a bit over the summer. I called Wells Fargo to discuss what options they have for small loans (mind you I'm only 17), and they told me that though they don't have anything through my checking account to pull out small amounts of money, they do offer teen credit which is much cheaper and, the operator says, will help build up my credit score.

Can anyone help guide me in this choice. Could I get it paid off every month: Yes. Any good or bad stories I can be referred to?

Answer 1

If you are responsible and can pay it off every month, do it. Having good credit will open up a lot of options for you.

Just don't go crazy with your balances. Carry a low balance and pay it off in full every month.

If you don't think you can be responsible with it, don't get one.

Answer 2

Do not do it.  You need to readjust your spending so not to go into debt.  At your age your income will never cover the cost of that type of debt and your future will be hampered by a bad credit rating.