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How Students Could Raise Their FICO Scores

By Janet Lacey
Published: Monday, October 4th, 2010

It does not actually matter whether you are a student or a professional. What matters is everything reflected in your credit report because in totality, this is your identity.

Students are also entitled to have their FICO scores as long as they have their own funds or they the means to pay for their debts. It may not be very advisable for students to engage into debts early on but starting your credit story while you are young will build up a good credit report in the future. As a student, you can begin your credit reports by opening a new account under your name. Your parents can help in your establishment of a credit file. 

Credit scores are important not just for adults but also for students especially for those who are living independently. Having a credit card under your name and paying your dues on time and regularly will help raise your FICO score. To further increase the chance for better credit scores, you have to maintain the balance in your credit card by up to 25%. 

Moreover, it would also help if your parents or other adult relatives would add your name to their credit cards. Your inclusion in the credit line of other people reveals their trust on your ability to be responsible for your finances. Remember, every time the person charges or make payments, you are also creating a good impression to your scores. 

Knowing your limitations is a big help in managing your FICO scores. Limit your credit inquiries to two per year. Most of the times, creditors get a negative impression on people with several inquiries in less than three months. You could also raise your scores if you increase your current card limits. The higher your credit card limit, the more chance for you to get into favorable transactions. 

Pay off old accounts and never attempt to close them. Your account when you were a student is a good point in your credit history when you grow old and when you avail yourself of higher credit opportunities like house loans and car loans. You should also see to it that you pay your credit on time. This will make a greater impact to your personality as it will show how you can manage your finances even at a very young age. 

These are just a few of the tips you can follow when trying to raise your FICO scores. Try to view credit report about you in helpful websites which provide you the chance to take a look at your current credit status. 

It does not actually matter whether you are a student or a professional. What matters is everything reflected in your report because in totality, this is your identity. Credit reports do not just boost your chances for low interest rates and better credit packages but they also create a favorable impression on your part. 

In instances when you are too young to understand the complexities of FICO scores and credit opportunities, you can always seek for adult guidance especially from your parents to provide you with credit information and counseling to enhance your FICO ratings. 

If you want to view credit report, you can visit the Free-Credit-Reports.com and analyze incorrect information that led you to low credit scores. Remember, whenever you view your credit report, you are broadening your chances for great burrowing opportunities.

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