| Creating good credit and getting student credit | | | | that you really do have a necessity and don't |
| cards is new territory for college students. Your | | | | overcharge any more than you need. |
| future is starting now and you probably haven't | | | | When choosing a card, you may have some luck |
| given much thought to building your credit. Getting | | | | going through your bank or credit union, but there |
| off on the right foot is crucial for your financial | | | | are companies that have special previsions for |
| future. Making the wrong moves can haunt you | | | | students. It is generally best to avoid companies |
| for years and you should be aware of the risks | | | | that be preying on the fact that you seem |
| and rewards when it comes to your credit score. | | | | naïve about credit cards. Beware of |
| Your credit score tells lenders if you are a | | | | representatives that offer free t-shirts or any |
| low-risk person who manages their money and | | | | other types of prizes for filling out an application. |
| credit well, or if you are careless and reckless | | | | That freebie could end up costing you hundreds |
| with your finances. If your credit is good, you'll | | | | or thousands of dollars in fees and interest in the |
| enjoy low interest rates on loans and credit cards, | | | | long run. Look for good introductory rates that |
| lower minimum payments than your peers and | | | | don't balloon into something horrible after the |
| more lending options will be available to you. This | | | | promotion runs out. Compare interest rates, fees |
| can be very important when it comes to making | | | | and terms of many cards before making a |
| major purchases such as vehicles or buying your | | | | decision. |
| first home. Making bad choices and careless | | | | You may need to start out with a secured credit |
| uninformed decisions can lead to a life of high | | | | card. These are credit cards that require you to |
| interest, high payments and simply not qualifying | | | | put money up front, use the card and prove that |
| for that car or house that you need. The worse | | | | you are responsible enough to make payments |
| your credit gets, the more you pay for | | | | on-time. Making on-time payments is one of the |
| everything that needs financing. Trending in this | | | | best pieces of advice you can get. Interest rates |
| direction can lead you on a downward spiral of | | | | can fluctuate very quickly when a payment is |
| out of control debt. | | | | missed. Fees are usually extremely high and you |
| You may not know exactly where to start to | | | | can get yourself into a bind that you can't afford |
| ensure that you get the best deal and establish | | | | to get out of. Always pay more than the |
| the best score possible. You are probably starting | | | | minimum required and pay off balances as quickly |
| out with no credit score at all and applying for | | | | as possible. Show your responsibility to your credit |
| loans and credit cards can be disappointing when | | | | card company and your credit score will reflect |
| you are rejected again and again. Make wise | | | | your diligence. Once you establish your good credit |
| choices. Don't get a credit card just to go | | | | score, it will pay off for years to come. |
| shopping or on a trip with your friends. Make sure | | | | |