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Building Credit: Building Opportunity

  • Writer: Max Fountain
    Max Fountain
  • 3 hours ago
  • 1 min read
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Establishing a solid line of credit is one of the most powerful steps that you can take towards ensuring long-term financial stability. Your credit is like your reputation, and it has significant influence on most financial decisions that you make—from getting loans approved to renting an apartment to securing a low interest rate. The status of your credit score has an impact on your ability to make big decisions such as these.  

 

You can't build a reputable credit score overnight; it happens by building consistent habits and making informed decisions. Over time, these actions can strengthen your credit score and make it easier to qualify for better financial opportunities. It is important to understand what effect your credit score. One thing that can negatively affect it is applying to too many credit cards at once, as each application can potentially take a small dip into your credit. 

 

Those new to building credit should consider opening a secured credit card or becoming an authorized user on a family member’s card to safely and securely build credit. Finally, track your credit report regularly to ensure any errors are fixed and to track progress. Building credit might not seem important to college students, but the habits you begin to build today can pay off largely in the long run. The sooner you start, the stronger the foundation will be.  

 

 

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