Credit Tips for Recent College Grads

Once you've earned the credits you need to receive your college degree, a new kind of credit becomes important. This kind of credit will affect you for the rest of your life, and will impact your ability to get certain goods and services. You may already have some experience with credit, but here are some trusty tips on how to build your credit as a college graduate. Get a secured credit card. As a recent graduate, you may be inundated with credit card offers. Take the time to find a reliable credit card with a low limit, minimal interest, and from a secure lender. Ask if your bank can offer you a better deal. Be aware that opening too many credit cards at once is risky. Stick to just one or two until you get used to your new job and new living expenses. Credit cards come with the risk of debt, so bear in mind never to charge to your credit card more than what you can pay back. Don't miss a payment date. Creditors are pretty strict about paying back loans on time, even if you just pay the minimum amount each month. Get used to paying your bills on time because missing them comes with expensive penalties. You can change some payment due dates to a better time in the month if that helps. Keep balances low. An important factor affecting your credit score depends on the ratio of the amount owed to the amount of credit you have available. You must use your credit in order for it to be counted toward your score, but pay it monthly in order to grow your credit wisely. To keep your finances safe, be sure to secure reliable insurance for your needs. Contact Little & Sons Insurance Services for quality auto insurance in Banning, CA and beyond.