Going to College
As you enter college, you will no doubt be bombarded with offers of credit from many banks and credit unions. Choose wisely, for the choice you make can affect your financial future for years to come. Carefully consider which offer of credit you accept.
As you acquire loans, you will build your credit history. Your credit score is a value that reflects your financial behavior. In other words, if someone lends you money, how likely is it that you will pay them back? Financial institutions have less risk when they lend to a person with a high credit score.
Your credit score will determine if you are able to do the following:
Finance a new or used car
Buy a home
Purchase a cell phone
Obtain a credit card or department store charge card
Rent or lease an apartment
Hook up utilities without a large deposit
Parents
