Don't Build Up Credit?

Question

I've received advice from both sides of the table that I, a college student, should begin building up credit while others have told me that this is a misconception and that it will only lead to early debt. What is the proper strategy?

Answer 1

There is nothing wrong with building up credit if you do so responsibly. You say you are a college student. Do you also have a job? If not, how do you plan on paying back any debt you accumulate? At this point in your life be very careful not to accumulate debt irresponsibly.

Answer 2

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:

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Answer 3

Just take credit and pay it in time, and your credit score will be set. To avoid common mistakes while buiding credit, I recommend this one - http://buildcredit.ifastnet.com - to monitor changes in you score and pre-estimate future scores for different scenarios of payments.

Answer 4

You should definately begin building up credit, but not necessarily by going out and signing up for a ton of credit cards, which WILL lead to early debt. A good way to build credit without heading down that road is to simply go to your local bank and take out a $1000 loan. DO NOT spend the money. Use it to pay back the loan. That is a fast, easy way to build credit. : )