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When you are a college student, it is a great time to start building credit. Once you graduate, you may need to apply for loans, or you might want to buy a car. You can establish and build your credit during this time. Your credit is your borrowing credibility. It tells lenders how much of a risk you will be. It is based on several factors, especially what kind of loans and credit cards you have. Take a look at some ways to build credit.

Get a Student Credit Card

Getting a student credit card gives you an opportunity to show creditors that you can handle making on-time payments and using a small percentage of your credit limit. You should use this card for everyday purchases that you would make anyway, and make sure that you pay it right away. This will help you build credit without getting into debt.

Become an Authorized User

If you aren’t able to open your own credit account, you can become an authorized user on someone else’s account. This would probably be your parents, and they will have control of the account. As long as they make their payments on time, you can build credit this way.

Start Paying Your Student Loans

Although you don’t have to start paying your student loans until you graduate, you can start making payments now. This will show up on your credit report, and it shows that you are paying your loans. You can wait until you graduate, but it is very important to make sure that you are never late on your payments.

Find Out If Your Rent Can Be Reported

Sometimes you will be able to have your rent payments reported to the credit agency. If you make on-time payments and have a lease in your name, find out if your landlord would be willing to report your rent.

Always Pay Your Bills on Time

No matter what, always pay your bills on time. Your payment history is the largest factor that makes up your credit score, so you should always make sure that you pay everything on time. Some people set reminders two weeks before payments are due, and others set up automatic payments. No matter what your method is, make sure that you pay for everything on time.