If you've just graduated from college, here are 2 options for building credit history.
If you've graduated college with no credit history, here's how you can build credit by paying off your student loans, becoming an authorized user or opening a secured card.Financial experts recommend young people start building their credit during college so they can set themselves up for future financial success. But if you've recently graduated and have no credit history to your name, there are still plenty of ways you can establish credit.
Graduating from college brings a lot of new responsibilities, such as finding a job and potentially renting an apartment. You might not realize it, but your credit score plays a role in nearly every one of these major milestones, which is why it's important to start building your credit history early.
You can go the traditional route of opening a credit card, or consider alternative options that may be less risky, such as becoming an authorized user on a family member's card.Know where you stand If you haven't opened a credit card by the time you graduate college, that doesn't necessarily mean you don't have a credit history. There are many
, such as making timely payments on your student loans and/or cell phone payment plans. Both are considered installment loans on your credit report, to be repaid over a fixed time period.
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