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Seven Easy Ways College Students Can Build Credit
While most students might be solely focused on one number: their GPA, their credit score can impact their buying power down the road. 

College Graduate Sitting Alone

You aren’t going to convince your parent’s that the reason why your grades slipped this semester was that you were too focused on your credit score. In fact, boosting your score might be easier than passing organic chemistry. Here are seven tips to boost your credit score while you cram for exams.

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Bank Account Opening or Mortgage Signing

Open a Checking and Savings Account

Now that you are living on your own, it’s time to have your own checking and savings accounts and manage your own money. Taking responsibility of your accounts will build the bank’s confidence and lead to credit card offers--and responsible use of plastic can easily boost your score.

Credit Card Handoff FBN

Become an Authorized User on a Parent's Credit Card

The CARD Act made it more difficult for college students to open credit cards on their own, and while the ruling may keep some from collecting massive debt, it does make it harder for young adults to build credit. A parent can add your name to the account, which allows them to keep track of your spending, and if necessary, cut you off. Parents don’t even have to give you the actual card, their good spending habits will help you establish credit.

Credit Cards, Mastercard, Amex

Pick the Right Card

If you are able to open a credit card, do your research and find one with a low interest rate, no annual fees, online tools and understandable billing policies.  

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Paying Bills (FBN)

Pay a Bill

Paying bills on time is a great way to boost your score. Even if you aren’t footing the payments yourself,  have it transferred into  your name (it doesn’t have to be all your bills, pick your favorite).

JCPenney Apparel Retail Shopping Bag

Open a Department Store Credit Card

We’re not suggesting opening a card at every store in the mall, but having one or two retail cards (gas cards count) can help build credit and can be easier to get than the major credit cards. With that said, they can carry higher interest rates so be careful not to spend more than you can afford.

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Credit Card With Money FBN

Open a Secured Card

Secured cards require a cash deposit as collateral, which then becomes the credit limit. After using the card responsibly for several months, it can boost your score and lead into credit card offers.

Graduate Holding Empty Piggy Bank

Take out a Student Loan and Pay Them Back

Student loans can help students build and maintain good credit, but only take out as much as you need to cover

Seven Easy Ways College Students Can Build Credit

While most students might be solely focused on one number: their GPA, their credit score can impact their buying power down the road. 

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