Your Credit History Affects Lending
Borrowing has a component that is paradoxical may be especially confounding while you introduce your search for college capital. It can be difficult to secure a loan if you do not have established credit, as is the case with many new borrowers and college-aged students. Having no credit is preferable to having bad credit, but only by a margin that is slight.
It is vital to protect your credit history from day one, but at college time your best economic successes to date may be having to pay your phone bill on time, or simply building a credit card account that is revolving. By all means, place your foot that is best ahead by displaying accountable fiscal behavior, but donвЂ™t expect banks and credit unions to provide for your requirements without an important reputation for good credit results. Continue reading