A new article from U.S. News highlights a few of the financial challenges today’s college graduates are facing, with some helpful advice on how to overcome those challenges. One of the things 20-somethings can do now to start positively affecting their future is to start building a solid credit history.
You may have a long and varied credit history if you’ve been on your own for a while or cosigned a credit card a while back, but many students leave college with no credit history to accompany them into the real world.
“Many college students think only spending on a debit card is the best way to go, but then you’ve given up the opportunity to build credit,” says Susan Bruno, a certified public accountant and financial planner.
Bruno suggests applying for a credit card as soon you are able. And if you’re a recent graduate with student loans, you are at least building your credit by paying them off, so whatever you do, don’t fall behind on those bills, Bruno says.
