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Building Good Credit
There are a few key points to building good credit. Learn how having a student credit card can get you off to a great start with your credit history, why it is important to build a credit history, and what to do to achieve a good credit score.
Because, in many cases, most of a college student’s expenses are covered by funding of some kind, college can be a good opportunity to learn to handle credit and start building good credit for the future. What I mean by that is that if your tuition and room and board are covered, in the normal course of things, you will not have enormous spending needs beyond that, and this circumscribed situation can be an ideal context in which to acquire and practice good credit card habits. Read on for further information about building credit.
Why Building a Credit History Is Important
While some students will finish college and immediately go on to further their education through graduate school or professional training, others will go to work full-time, and quite possibly not in their home-town. When this happens, two major reasons for having established credit may quickly come into view: the need to purchase a car and the need to rent an apartment. Of course, these are not necessities for everyone and circumstances differ: but for many students, college graduation is the turning point after which having a credit history becomes a real boon because both buying a car and renting a living space - not to mention buying an airline ticket, renting a car or booking a hotel room - are much more complicated if you don’t have a credit history.
How to Build Good Credit
We know that lots of people don’t have good credit. How do those who do have it acquire it? Here are some steps to follow.
Having established a credit history with a credit card, it will be easier to expand to the world in which you also may have a gas card, a car loan, and a monthly housing payment. The loan, which having established credit with your credit card will help you secure, will further build your credit history, and you’ll be on your way.
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