American English Conversation: Lesson 95

DIRECTIONS: Read the dialogues below in English, then translate them and read them in your primary language (if needed). You’re encouraged to read these dialogues with your teacher, tutor, colleagues, family, and friends to practice and improve your American English even further.

Topic: Building Credit

Dialogue 1

Tom: Hey, Ben. How’s your financial situation going? Have you started building credit yet?
Ben: Yeah. I got approved for a credit card last month.
Tom: That’s great! Having a credit card and using it responsibly is one of the best ways to start building credit.
Ben: Yeah, that’s what the guy at the bank told me.
Tom: Did he also mention anything about bank loans?
Ben: No, not really.
Tom: Well, getting a small loan from the bank and repaying it on time can help build good credit too. Just do your research and choose a reputable bank with reasonable interest rates.
Ben: Okay, I’ll keep that in mind. But what if I don’t want to take out a loan or use a credit card too often?
Tom: Another important factor in building credit is paying bills on time. Make sure all your monthly payments are made before their due date. It shows lenders that you’re responsible and capable of managing your finances well.
Ben: Got it. So, how can I check my credit score and see if I’m making progress?
Tom: There are websites like Credit Karma where you can check your credit score for free. And remember, it takes time and consistent effort to build good credit. But the rewards are worth it in the long run!
Ben: Thanks for the advice, Tom. I appreciate it.

Dialogue 2

Tom: Hey, Jack. How’s it going?
Jack: Not bad, Tom. I am just trying to build my credit.
Tom: That’s innovative thinking, Jack. Have you thought about getting a credit card or a bank loan?
Jack: I’ve thought about it, but I want to take it slow. I don’t want to get in over my head with debt.
Tom: That’s wise. But if you use your credit cards responsibly and pay your bills on time, you can help build your credit.
Jack: I know, but I’m unsure which kind of credit card to apply for.
Tom: Well, there are different types of credit cards. Some offer rewards like cash back or travel points, while others have lower interest rates. You should research and find one that fits your needs and spending habits.
Jack: Hmm…I’ll do that. And what about bank loans? Are they an excellent way to build credit?
Tom: They can be, but only if you make timely payments. If you miss a payment or default on a loan, that can hurt your credit score.
Jack: Got it. So, the key is to pay bills on time and keep up with any debts.
Tom: Exactly. That’s how you build good credit and establish yourself as a responsible borrower.
Jack: Thanks for the advice, Tom. I appreciate it.
Tom: No problem, Jack. Good luck building your credit!

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