Establish Good Credit in College

College students work hard for their degree. And hope it will lead to a better job. Having good credit is also a goal. Potential employers may give credit checks to applicants. Not having any credit can be just as bad as having no credit. College students are usually at the perfect age to begin developing a good credit history. The younger you are, the better. Establish a solid credit rating in your young adult years will benefit you for life. But how can you develop credit at such a young age?

The easiest way to establish and boost your credit rating is to get a credit card. Not a debit card. But a real credit card. Debit cards do nothing for credit history. They don't boost your credit rating.

It may be more difficult for young people to get a credit card today. But there are ways around some obstacles. Banks are going back to the old ways of needing to see good credit in order to get good credit. But college students normally can get a couple of credit card offers. Many campuses pass out fliers, although some have stopped this practice. You can look for ads in college-age magazines. Or, go to the websites of some big credit card banks and look for special offers for college students.

You may also have an easier time getting a department store credit card, especially if you have a part-time job. Having some form of employment income is a good thing to have on any credit card application.

What is the easiest most sure way of getting a credit card? Having your parents co-sign for one. They can even add you to one of their credit card accounts. You are now attached to the card and will benefit from the the credit history. If your parents are reluctant, talk them into getting you a credit card with a nominal limit like $200. That way they will know you can't break the bank.

Once you get your first credit card, maintain it correctly. Pay the bill on time each month, and preferably the whole balance. Don't be saddled with more debt than you need. Your student loan balances may be substantial.

You should not get several credit cards. The more open balances you have may count against you. Plus, having several cards is just a temptation to charge more. One credit card, used wisely, paid up, will do your credit rating wonders!

>>More tips for college students and credit cards.

>>How to find college scholarships.