College is not just about school and friendships; it’s also about preparing for your future. Once you graduate and enter the adult world, you are going to quickly realize that having good credit will make life easier and in a lot of cases, more affordable.
Good credit makes it easier to rent an apartment, take out an auto loan, get the best cell phone deal and eventually getting a mortgage.
All kind of important, wouldn’t you say?
Unfortunately, while most college students are focused on improving their earning potential, they put off building credit. This is a shame, because there is an easy way to start building up your credit score in college: get a credit card and use it responsibly.
Sometimes credit cards are viewed as negative because of the temptation to buy more than you can afford. If you use a credit card responsibly, it can help build your credit score so you can take advantage of all the benefits afforded to those with good credit.
Step 1: Apply for a credit card that has no monthly or annual fee. You may need a cosigner if you are under age 21 or do not have steady income. Allegacy has several credit card options to consider and some even offer rewards.
Step 2: Set a small monthly budget. Only allow yourself to charge what you know you can pay back every month. Your credit score will build up as you make full payments on time. Never make only the minimum payment.
And that’s it!
Get started building credit by applying* today with a credit card from Allegacy! Apply online or call 336.774.3400 for more information.
*All loans subject to credit approval.