Your credit profile affects your ability to get a job, apartment, car loan, and even insurance
Congratulations to all of the recent college graduates! You did it! Now’s the time to follow that smart move with another and take a few minutes to learn how to build a good credit profile. Having good credit is important because it will save you money in the long run. Need to get a loan for a car or something else? You’ll get the best deal—in the form of lower interest rates—if your credit is good. You’ll also pay a lower interest rate on credit card debt. Your credit profile is also a big factor in how much you pay for car insurance—even bigger than your driving record. And if you don’t yet have a job, bad credit could cause a potential employer to think twice about hiring you.
Check out these 5 ways you can boost your credit causing you to avoid future pitfalls:
- Search for your first credit card
- Don’t borrow too much
- Pay off debt on time
- Don’t worry about having debt “diversity”
- Check your credit report regularly