The Wise Student

Many years ago, so-called credit experts would continually warn college students to stay away from those attractive booths on campus. You know, the really nice decorated booths offering free t-shirts and promotional products in exchange for a completed credit card application.  They couldn’t have been further from the truth. That is, applying for credit. The wise students have already read this and acted upon the knowledge.  Do not worry; there is no better time than now. Obtaining credit in College during the early years in life is actually the most beneficial financial decision you can possibly make. Credit being readily available is also a huge plus. Readily available! Yes, here you will discover the smartest and most efficient method to find that perfect credit card, why start your credit journey now, the responsibilities it requires, and why it is easy to get approved without credit history.

First, you can forget about that College campus credit card booth.
Back years ago this might have been a good option. However, in our high tech world with access to the fascinating world of high speed internet, we instantly become educated and compare all viable options. Not to put down that booth at your college but let’s face it, it is only one option and not the best. In this case you just tapped into a college that only focuses on Credit. eCredit College’s vast wealth of knowledge is here to educate you and guide you in the right path. We have paved your road so it will be nice and smooth.  Yes, the internet has the best and most complete selection of credit options available on the market.  Look around for the a credit card with the most favorable terms; introductory no interest period, cash back rewards, bonuses, mileage points, minimal to no annual fees, etc. You name it, choose the best card for your life style. You might even be able to customize it with your favorite colors or even college logos. Notably, the options are endless. Tip: Once you get approved, keep it open for ever. Your older accounts help boost your credit score.

No better time to start building your credit.
You’re young and smart, right? Start acting the part. Educate yourself at eCredit College. Credit is the backbone to every large purchase in life and a necessary tool to leverage capital when starting a successful business. With out it, lets face it, your options are limited.  Limits do not belong in our vocabulary. Good credit has opened doors for many and in turn it has created barriers for those that had a lack of credit. Whether you are purchasing you first car, credit card, establishing water and electric utility account, home ownership, or even employment – your credit will be requested and scrutinized. Most importantly they want to know how you handle your finances and ultimately your level of responsibility.  So the sooner you start applying for a credit card the sooner you can show the world you can handle it. Also the longer you have an account in good standing the faster your credit will increase and be on its way to reach the 800 club. This is an elite club we all want to be a part of.  Only 10% of the general public has the pleasure of having a credit score over 800. By starting your credit journey during college, you will be well on your way to being in that top bracket.

Applying for credit Tip: Creditors know more than you think: Do not provide false information on your application.  Here is a low interest card with no annual fees.  Great card to start with. Apply now!

Remember, credit is to demonstrate your responsibility. Demonstrate it.
Be responsible with your decisions and actions. Here is a handy tip to help you be responsible: If you do not need it do not buy it if you can not afford it. Just because you have been provided this privileged buying power, does not warrant a shopping spree. It is best to only use your credit for necessities in your day to day life and emergency when they rear their ugly head. The fastest and safest way to build credit is by charging and paying your credit card in full every month. Creditors in turn will start reporting positive data to the credit bureaus, increase their confidence in your ability to pay, and best of all increase your credit limit. Exercise caution with over spending but most importantly apply for credit now. Later we will talk about multiple cards but for now, focus on one as multiple cards and inquires during your first credit year is not favorable.

But I don’t have credit, I am only in College! or I am too young! or I have bad credit!
Every year thousands of borrowers across all walks of life get approved for credit. That’s right!  Regardless of your income as well. It is the easiest time to get approved since creditors are willing to take larger risks because of your current position in life. You see they know very well that a large percentage of college students are still financially backed by there parents or legal guardians. They know if you can’t pay someone will or better yet, you have your entire adult life to pay for it. Be wise and know your limits. You can have lots of fun with credit but it needs to be taken seriously.  If you ever get in a situation you can not solve, do not hide it and work out a plan with your parents or legal guardian. After college it will actually become more difficult to obtain credit since there is a perception that you are now on your own, higher perceived risk. Take advantage of the situation and start building your credit empire. Keep in mind, depending on you’re your credit report, some credit cards may require a co-signer. Not to worry as there are many creditors that do not require such.  There are also other valuable options even if you have some negative comments on your credit such as prepaid cards (with credit builder features) and secured credit card.

Be wise and apply now.