Categoria: Georgia_Lawrenceville payday loans

Tips to Improve Your Credit Score as a Student

Tips to Improve Your Credit Score as a Student

What Are Some of the Best Ways to Increase My Credit Score?

personal loans immediate approval

Credit scores aren’t written in stone; they’re a snapshot of your credit file at the time the score is requested. Your credit score can go up or down (or stay the same) as your credit file is updated with new information. So, if you currently have a low score, it doesn’t mean it has to stay low forever. On the flip side, if you have a high score, it doesn’t mean you can stop being responsible with your credit!

Some students have a poor or even non-existent credit score because they simply do not have an established credit history, and this is completely normal especially for high school and college students. Other times, an individual may have misused credit in the past (such as racking up a big credit card bill and never paying) and their credit score suffered as a result.

In either case, college students need to know how to improve their credit score. Below are some of the best ways you can increase your credit score, along with tips to help maintain a good credit score once you have one.

Establish Credit Early

Starting to build your credit history early while in high school and college will help in the long run as length of credit history typically accounts for 15% of your total score.

  1. Cosign A Loan: Parents can cosign a loan with their child and ensure they make their payments on time.
  2. Authorized User on A Credit Card: Your parents can add you as an authorized user to a credit card where someone is consistently making payments. Payment history will be added to your credit file. This shows that you can make payments regularly and you can pay them on time. It’s important to know that only some credit scores consider these payments for your credit history. Continue lendo “Tips to Improve Your Credit Score as a Student”