Figuring Out Buyer Behavior No.1
Segment: People who need credit building knowledge and skills
Interviewee #1:
This individual stated that she needed these needs multiple times in the past in situations surrounding loans and buying things in advance with her credit card. For one example, the person said that this need was most prominent when she couldn't get a good loan on her new car payment. She needed a new car to work to school and work. Ultimately, she had to change her decision of her car to a different older model. Although, in the moment she wished she knew how to build good credit before she was in her unfortunate situation and could have gotten the car she wanted. She usually goes online to search for the best information, but can barely understand what the article or advice is trying to say because of the vocabulary and complex explanations.
Interviewee #2:
This person said that he needed this skill a few times when going to his bank to get his credit card and when discussing his credit score while at the bank for loans. For his main example, he stated that he needed a hefty loan to go to UF because he's out of state. So, he went to his bank and discussed with what options he had. He couldn't understand why he couldn't get the best loan because of his poor spending on his credit card. He wishes that he knew before hand that having a credit card, instead of a debit card, would have negatively affected his credit score (surprising right). After realizing his mistakes, he usually goes to his parents for advice after.
Interviewee #3:
This student said that she needed credit building skills since she got her first credit card. Her example was that she couldn't figure out why her credit score was so bad when she went for a loan on an off-campus apartment. She soon figured out that she wasn't spending the minimum amount on her card since she got it back in freshman year of high school. She always used cash and had the credit card as a backup. After realizing her horrible mistake, she went to the bank to discuss possible fixes.
I have learned that most students have made very common and horrible mistakes that will affect their futures. Although, they can still make it out with a high credit score since they are so young and haven't truly bought into huge long-term investments. I believe people need these needs right now and waiting until later will only cause more people to continue making these same mistakes until after they decide to purchase something large using their credit.
Interviewee #1:
This individual stated that she needed these needs multiple times in the past in situations surrounding loans and buying things in advance with her credit card. For one example, the person said that this need was most prominent when she couldn't get a good loan on her new car payment. She needed a new car to work to school and work. Ultimately, she had to change her decision of her car to a different older model. Although, in the moment she wished she knew how to build good credit before she was in her unfortunate situation and could have gotten the car she wanted. She usually goes online to search for the best information, but can barely understand what the article or advice is trying to say because of the vocabulary and complex explanations.
Interviewee #2:
This person said that he needed this skill a few times when going to his bank to get his credit card and when discussing his credit score while at the bank for loans. For his main example, he stated that he needed a hefty loan to go to UF because he's out of state. So, he went to his bank and discussed with what options he had. He couldn't understand why he couldn't get the best loan because of his poor spending on his credit card. He wishes that he knew before hand that having a credit card, instead of a debit card, would have negatively affected his credit score (surprising right). After realizing his mistakes, he usually goes to his parents for advice after.
Interviewee #3:
This student said that she needed credit building skills since she got her first credit card. Her example was that she couldn't figure out why her credit score was so bad when she went for a loan on an off-campus apartment. She soon figured out that she wasn't spending the minimum amount on her card since she got it back in freshman year of high school. She always used cash and had the credit card as a backup. After realizing her horrible mistake, she went to the bank to discuss possible fixes.
I have learned that most students have made very common and horrible mistakes that will affect their futures. Although, they can still make it out with a high credit score since they are so young and haven't truly bought into huge long-term investments. I believe people need these needs right now and waiting until later will only cause more people to continue making these same mistakes until after they decide to purchase something large using their credit.
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