{"id":1887,"date":"2019-02-28T15:58:16","date_gmt":"2019-02-28T23:58:16","guid":{"rendered":"http:\/\/www.wou.edu\/health\/?page_id=1887"},"modified":"2020-02-19T09:05:40","modified_gmt":"2020-02-19T17:05:40","slug":"credit","status":"publish","type":"page","link":"https:\/\/wou.edu\/health\/resources\/student-health-101\/financial-wellness\/credit\/","title":{"rendered":"Credit"},"content":{"rendered":"

credit<\/h1>\n

College is a great time for students to start building their credit, but it’s important to do it in responsible ways.<\/p>\n

What Is Credit?<\/strong><\/p>\n

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How Can I Start Building Credit?<\/strong><\/p>\n

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  1. Start by getting a free copy of your credit report from one of the three credit reporting agencies.\n
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    1. Equifax<\/a><\/li>\n
    2. TransUnion<\/a><\/li>\n
    3. Experian<\/a><\/li>\n
    4. You can also request a free credit report each year by going to AnnualCreditReport.com.<\/li>\n<\/ol>\n<\/li>\n
    5. Once you have the report, start by checking the information and making sure it\u2019s all correct. The report will also include recommendations on how to begin improving your credit.<\/li>\n
    6. If you don\u2019t have any credit history and you need to begin building it, there are a few easy ways to get started:\n
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      1. Get a secured credit card: With a secured credit card, you make an upfront deposit, which is usually your credit limit. If you make a deposit of $1,000, you\u2019ll have a credit limit of $1,000.\n
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        1. After that, it works like a regular credit card. You use it to make purchases and then make on-time payments to build your credit score.<\/li>\n<\/ol>\n<\/li>\n
        2. Become an authorized user. Ask a friend or family member that has good credit if they could add you on a credit card as an authorized user.\n
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          1. The catch is that your friend will be on the hook to pay for anything you charge and if his credit declines, this can also negatively affect your credit score.<\/li>\n<\/ol>\n<\/li>\n
          2. Apply for a store card. This might be easier to qualify for. A store credit card is typically one that you are only able to use while shopping at that particular company.\n
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            1. But, be aware! Store credit cards often come with higher interest rates, so it is important to pay off your balance each month.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

              What is a good credit score?<\/strong><\/p>\n