I’m a type 3 enneagram, which means I like to get things done and have things planned in advance. So when it comes to my future I like to have a plan of action in order to make life a little bit smoother cause let’s be honest, there’s nothing easy about being an adult.
So knowing that I’ll be graduating this year I wanted to use my senior year as a way to build myself up for the best possible post-grad life. So I’ve been asking some adulter adults than me about whether or not I should get an apartment, or by a house/ condo. The majority won by saying that a house would be an investment that could lead to me making money rather than losing it each month to a place I will have to sign for again in 12 months. So ran with that advice and started looking for Condos cause your girl isn’t trying to mow a lawn and found the perfect place! Now the next step was to build my credit. I must say mine isn’t too great, I had a credit card in high school and severely abused it, I didn’t know how to manage money and once it got to a certain point I simply couldn’t keep up with the payments. I did, however, pay it off and closed the account 3 years ago, yay me! But all of those late payments stayed on my record which led to my low credit score.
So being the 3 that I am, I research on how to build credit while still in college, the simple answer was to understand where your credit score stands, and then to get a credit card that is specific to your needs.
One of the websites suggested Experian.com/boost
This website allows you to view your credit score, gives you tips on how to boost it, and then gives a list of all the credit cards that would give you a percentage of how likely your approval rate is. So I did just that! And was able to get a card with Discover! It has such wonderful perks, such as, no annual fee, and it starts you off with $300 now the interest is 29% however with such a low credit score this is to be expected, in simply got this card to give me the boost I need for another. Now you might be asking yourself.. another card!? Yes! Experian actually suggests that you have up to 5 cards because this would give loans more confidence in you and your spending.
The best way to work the credit card game is:
1) Let the cards work for you. Get a cash back card or one that give you miles. This way you’re able to benefit in more ways than simply boosting your credit.
2) Don’t use it as extra cash flow. A credit card is not to be used for fun. It is a serious game to play and you have to play it wisely. For my card, I buy my cat food, and a week later pay it off. That’s it! It doesn’t matter how much you are spending as long as you are using it and paying it off on time. This is what builds your credit. Now many people will say that building good credit takes time and while that is true, it also doesn’t take as long as you might think if you play your cards right. Set a goal and go from there!
My current goal is to build credit for 3 months and then get another card. By the end of the year, I should have 5 cards and outstanding credit.
Adulting can be confusing at times but when you have a set game plan you can’t help but feel as if you’re winning at life.
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