If you're one of thousand students out there today that has bad credit, you don't have to worry because her many things you can do in order to your credit score back to a regular score. There's no need to worry when you're young because you have years ahead of yourself to rebuild your score. In fact, it's best that you learn your lesson young, so that it will happen in the near future.
If you're finding yourself with a bad credit score today, you have to realize that you need if they score back up if you want to get a house, a car loan or even a loan from the bank. If you have a bad credit score, you're going to find that no one is going to lend money to you. In fact, you may find some banks are willing to lend you but interest rates alone are going to be double or triple compared to those that have good credit.
Studies have shown that having a good credit score can save you thousands a year just with your mortgage. It makes perfect sense because if you take a mortgage at 5% compared to one at 6%, that's a whole 1% difference. Now take that 1% difference and add it to a $200,000 house and that's already $2000. One percent doesn't sound like a lot when you add the big number it really adds up. If you have bad credit today as a college student, don't worry. You just want to learn your lesson start to pay off your bills on time and use credit cards responsibly. If you find you can't use credit cards at the right way, to start using cash or debit card.
