WELLS FARGO VS. SUNTRUST BANK
On Monday 27 of July, Mr.. Kamal and Mr. Michael came from SunTrust Bank visit the Economics and Personal finance class at TC Williams to brief about banks and how they function. The following day, we visited a local Wells Fargo branch. We met Mr. Elton Holley who is a financial banker, he also briefed about how their bank works in terms of credits.. The presentation that helped me most was the one with Mr. Elton . He was really jovial an eager to answer all questions and even requested for more. He spend most of his time explaining the theories associated with banking while we all enjoyed. Although it was a pleasure meeting the manager from SunTrust, I personally felt in love with Mr. Elton Holley and his co-workers for such a warm welcome.
From these two presentations that we had, I learned a lot of interesting theories from both banks but most importantly from Wells Fargo. It came to a conclusion that in order to buy a house one need to have a credit card with a high credit score. Also, one should be eligible for a credit card at the age of 18. Moreover, I also learned that if one is not able to pay his or her money on time your credit score goes down and you need to wait for 7 years in order to recover.These were a lot of new ideas to me because I was a bit quite shock because I didn't know anything about credit cards or debit cards simply because I've never open a bank account before. I ask Mr. Elton that I want to get a credit card at the age of 17 but he said I wasn't qualified because I was a minor. But he suggested that I should rather open a checking account for now which I understood perfectly and did.I would prefer using a credit card mostly because it easy and safe .