How to Maintain Good Credit Even Beyond College

Establishing credit history can be easy but keeping it in good shape is the real challenge. Are you a student who wants to build credit? There are actually many ways for you to maintain your good credit not only while in college but even beyond graduation as well. Check out the following tips:
Be timely. There’s still no substitute to timely payment. And this should not be surprising since your credit score is largely based on payment history (35%). Yes, occasional and frequent late payments will hurt your score so if you want to keep it excellent, pay your bills on time.
Watch your limit. Another big factor that can affect your credit score is how you use your limit. Credit utilization is 30% of your final rating. It doesn’t matter whether you are given a low limit or a high limit. What matters most is how you use it. Experts recommend not using more than 30% of your credit limit if you want to keep it in good shape.
Check your bill. Do you check your credit card statement as soon as it arrives? Don’t pay for charges that you did not owe. Consumers have the right to dispute unauthorized charges in their account. Checking your bill gives you the opportunity to dispute instead of paying more than you spent.
Read the fine print. A lot of people sign up for the wrong credit card or the wrong deal because they did not bother to read the fine print. DO not simple scan the contents of the Agreement. Read and understand every statement to make sure that the rates, fees and terms are reasonable.
Plan your spending. Credit cardholders are prone to overspending. Because a credit card gives you the option to buy now and pay later, many people fall into the trap of bad debt. The best way to avoid this is to plan your spending. How much do you plan to charge to your credit each month? Never use your credit card for an unplanned purchase. More importantly, do not break your own rules by coming up with excuses.
Check your credit report. It is recommended that you check your credit report at least twice a year. This way, you can be sure that it does not contain erroneous information which can hurt your credit score.
Consumers are entitled to receive one free report (from each bureau) annually. You can order your free copy from Annualcreditreport.com- the only resource of free consumer reports authorized by the government. You may find other sources that offer free report but you may discover later that the service is not completely free after all.
Cut down your debts while in college. If you acquired a student loan, try to reduce your debts by contributing to your repayment. Do your best so you can graduate without unpaid credit card debt. Since you do not yet have a regular job at this time, focus on your studies and keep your spending minimal.

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