[Y]ou don’t have much money and any you do have goes towards paying your college expenses. You may wonder why a credit score even matters at this stage of your life. If you haven’t given it much thought before, you need to become aware of it now.
Your Future Depends On It
Your credit rating holds the key to a lot in your future, starting with your job. Many employers perform credit checks before they hire employees. Even though they don’t see your actual score, they will see how you’ve handled credit in the past. If you apply for a position where you will be involved with money, you can expect this kind of background check.
Landlords are also checking credit histories, so you might have trouble getting an apartment without it. While no credit may be somewhat better than bad credit, it also shows that you don’t have a lot of experience with money or at least with credit.
At some point, you may need a vehicle to get to work. You will have a more difficult time getting an auto loan if you don’t have a credit history. Even if you qualify for one, the terms are likely to not be as good with higher interest rates.
You might even have to get your parents to co-sign for you on a loan or even an apartment. If you want to feel like a real adult, you may want to work on building your credit history while you’re still in college. Apply for a credit card with a low balance. A secured card is even one option. Just be responsible, pay off the balance if you use it and work on showing a positive credit history. It will take about six months for an account to show up on your credit history, so start early and you can be ahead of the game.
Credit often becomes even more important or a bigger hindrance around the holidays. It can either make your holidays better because you can spend more, or it can limit how much you have to spend if you have bad credit or none at all. Here are some ways to make sure your credit is ready […]
[R]etailers look at the holiday season as their time to make money and make up for any struggles from the rest of the year. They work to come up with all kinds of ways to bring in new business during this season. However, not all marketing ploys and gimmicks are good for you or for […]
[S]tore credit cards are nice for a lot of users. They often come with special perks and rewards. You may get an added discount or special coupons on sales. You may gain points that can be used towards purchases. However, these benefits only work as long as your store is open. What happens to your […]
[B]usiness credit cards are a great option for people who own a small business. It allows them to use credit to pay for purchases or expenses when they have limited or delayed cash flow. It also makes it easier to keep personal and business expenses separate. You should know that if your personal credit history […]
[I]f you have been told you have excellent credit or your credit score is in the upper 700s or even 800, you may think the sky’s the limit on applications. You get a wake-up call when a creditor tells you that your application has been rejected. How could this happen to someone with excellent credit? […]
If you’re like most people, you get into trouble with your credit because you don’t have enough money to pay the bills on time. You may live too close to the max of your budget or have too many unexpected expenses come up. If this sounds like you, then you’ll want to look for ways […]
[Y]ou don’t have much money and any you do have goes towards paying your college expenses. You may wonder why a credit score even matters at this stage of your life. If you haven’t given it much thought before, you need to become aware of it now. Your Future Depends On It Your credit rating […]