The more you rely on the credit cards, and the loans that you have, the less independent you are going to be and the less you can save for your future. The more you use your credit, the longer you are going to have that bill hanging around in your mailbox.
If you are just in college or possibly, you are just out of college, you are going to find that many types of credit card lenders are going to offer you gifts for filling out their applications. The gifts are nothing that you most likely do not already have. Do you really want another line of credit?
The more credit you have the easier it is to get your self into debt that you cannot get out of. If you have one credit card with a good rate, and a good credit line, limit yourself to just this one card and say no thanks to other cards that can possibly tempt you into using too much credit.
What is the best advice that any young person can take advantage of when it comes to your credit and your financial future? Start small and build big. Start with just one credit card that has a good rate. After using this one card a few years, making your payments on time, not maxing out your card, and not missing any payments, your credit line will continue to build. What was a $500 credit card in college can be $10,000 or more in ten years depending on how you use your credit wisely. This enables you to make the bigger purchases you need without the hassle of getting to far in debt that you can’t afford.
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