We live in a society that is ruled by credit and credit scores. Having good credit is extremely important and can give you the ability to receive approval for a low interest mortgage, car loan and credit cards. For those that are turning 18 or currently enrolled in college establishing credit is definitely one of the most important things you can do to assist you in the future.
Educate Yourself First
The second you walk onto a college campus you will probably be inundated with free credit card offers, however many of these banks dont always have your best interests in mind. It is important to understand how credit works and how to use it responsibly. Credit cards are unsecured loans. They are not free money or tools to purchase items when you really cant afford it. While they can help you pay for much need expenses, using them irresponsibly can be very costly and damage your financial situation for years to come.
Start off with One Credit Card
In order to establish credit, you will need to take out a loan (car loan or apply for a credit card). You dont need to have more than one credit card to establish credit. In fact, having more than one can be...
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