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How To Build Your Credit Score As a College Student!

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Many people commit the unfortunate mistake to wait too long to start building their credit score. In fact, now days most people wait until they have graduated from college (if attended), get a job, do a thing here and there and then finally decide to apply for a credit card–only to find out that eleven times out of ten they will be rejected.

Well, be glad that you’re at What Isaac Said. Today, I will teach you a quick and easy strategy to build your credit as a college student. But first you must ask yourself, why is it important to build my credit?

Here are a few reasons why building your credit is important:

Therefore, establishing a reputable credit history at an early age will definitely open more doors for you. How do you start building your credit without having a credit history? Easy!

As a college student myself, this is perhaps the number one reason why my peers don’t even think about building their credit score. People typically just don’t know how. No one  at school teaches you how to do it. No one ever tells you how to get a credit card and build your credit. Worry no more! Today I will explain to you how to do it the right way.

How do you start? First, you will need to apply to either a low score credit card that most of the time approves its applicants or to a student credit card. Keep in mind that there are many other ways to go about this but I will show you what typically works so that you at least have a basic guide on how to get started.

Here are some student credit cards that you can apply to and be approved for immediately:

1) Discover it for Students:

2) City Thank You Preferred Card for College Students:

3) Bank of America Visa Card for Students:

If these credit cards don’t appeal to you, keep calm and keep reading because I got a good one for you!  The following is a secured credit card. This means that you will have to place a required deposit which will also serve as your credit balance. You can think of this type of card in terms of a loan. This type of card is just as if you were to give yourself a loan which you will have to pay it off to yourself after some time. After you pay it off or build sufficient credit history, you will be able to apply for an actual credit card that does not require this type of initial deposit. On the bright side, the secure credit cards typically get approved as long as you make a deposit to set your balance. This type of cards is often times utilized as a stepping stone in the world of credit. With this type of credit card, you are simply showing the bank that you are responsible enough to handle a credit card. I mean, the deposit that you make becomes your credit limit (sort of) so it will be your money that you’ll be spending and paying back after all, not the bank’s money!

4) First National Bank: Secured Kickstart Credit Card

I personally would primarily recommend you to go with option  1,2, or 3. Leave option 4 as your last resort. Additionally, you may also go to your local bank and ask for the type of credit cards that they have available for college students or for someone that is about to start building their credit.

Furthermore,  a great and free website that can help you chose your next credit card, track your credit score, and much more is www.CreditKarma.com. This is a great tool to add under your belt as you build your credit card history. Good luck as you seek the credit card that fits your wallet the best!

One last tip from What Isaac Said: use your credit card to make smart purchases, but NEVER go over your credit card limit and always pay on time. In other words, don’t spend more money than what you currently have!

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