Want to improve your credit score even if you’re still in college?
Having a credit card while in college can be a lifesaver, you can use it for emergencies, buy stuff you
need online and many more. But what you’re forgtting about is your credit score, you need to realize
how important it is. Even if you’re just a student, you need to be financially responsible and this is the
good time to practice it.
Why is your credit score important?
Your credit score will determine your credit worthiness in the future, this may include your job, your
future dream house (home loans), your car (car loans) and even your lifestyle. This may even come in
handy now, if you’re thinking about getting a student loan. With a low credit score, your chances of
getting rejected are high. But if you already have a good score, you either want to maintain it or boost it to
make yourself credible.
What can I do to raise it?
If you are the one paying for your credit card, make sure that you pay them on time and regularly.
Missing a payment will just get you into deeper trouble. It will make you lose points faster than you think,
and those points will usually take a few weeks to gain back. Paying on time is a good practice for you to
manage your money as well. Soon enough, you’ll have a budget to follow which will really help
especially if you’re staying in a dorm, living away from home without parents to give you money for that
pizza you’re craving. Using your card wisely is a must if you want to raise credit scores. If you think that
your credit card is an excuse to purchase stuff nonstop then you’re wrong, your credit has a limit that
shouldn’t exceed, if you want to get the best results for your score, then stay 25-30% below your limit.
Get yourself a copy of your credit report, this way you can monitor it and clear out all the errors, if there
are any. Errors can be a problem too and letting it linger on your report isn’t going to help. Let your credit
agency know about this so they can update your record right away.
Just be aware about your credit and keep it organized. Control your credit usage and don’t let debts pile
up; know what you can afford and you’ll have a better score in no time.