Credit Cards for Student Looking To Build Credit History

by Mack Bartlett

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There are plenty of credit card companies that are willing to send offers in the mail, bombard your e-mail account, and call to see if you want credit cards. These companies are drooling to offer credit cards for students looking to build credit history. I remember when I turned 18 my mom kept a huge stack of all of the credit offers that I started receiving. It was relentless and made me think of how many companies out there are looking to prey on college and high school students to get them to spend money carelessly. Many credit card providers take the same stance as gun dealers, “Card issuers don’t kill credit, customers do.” This can be a very true statement because many students are willing to dump their credit in the trash very quickly.

First of all I think that you need to realize quickly how important your credit is. There are so many things you can purchase out there where your credit is going to be vital. Good luck getting a car or house without good credit. You better have liquid assets to use or even if you get your desired items then you will probably have to pay high interest rates or have large payments required. You will appreciate good credit often, even in simple purchases where a credit check is necessary to get a security system, a boat, furniture, televisions, cell phones, etc. It is basically your financial integrity to society.

Here are some things to look at before getting a credit card. Start by opening a checking account and a savings account. This is a good sign for a creditor to tell of your financial history and if you pay off bills like rent or utilities. Next get a store credit card and pay off your items you buy there promptly. These are easy to obtain, they give you some kind of discount, and can help you to start intelligent credit habits. You might have to get a secured credit card initially, which will require a deposit that equals the credit limit you are going to establish. This is another nice way to get your foot in the door.

When I was in high school I got a line of credit through my mom’s account that she cosigned on. This helped me out a lot. I really never used the card and my mom taught me early on how to pay these cards off consistently. If you are concerned you will not be able to pay it off or just want to save time then do what I did and set up an automatic payment relationship. When it came time to get my own account it was easy. So approach your parents and explain you want to establish your credit. Most parents would consider that very mature of you and look for some way to help you do that.

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