Build Your Credit Starting in College

When you get into college, the first thing you should do is get a credit card. Most importantly, it helps you start to build your credit. Secondly, it teaches you how to manage the risks of buying yourself expensive stuff while you still have your parents to fall back on.

For instance, when I first got into college, I applied to a lot of student credit cards. However, the only one who would accept me was the American Express Blue Cash for Students card. What’s also funny is that they only gave me a $500 credit line back then (four years later, that credit line exploded to $30k).

I know people who didn’t start building their credit until after they graduated college, and they’re in a bad position because their credits are so low that they can’t really handle the financial burdens of post-college life.

Morale of this lesson: start building your credit as soon as possible!