The Importance of Credit as a Teenager

Any high school senior who is going on to college and tries to apply for a loan knows or will know the absolute madness the credit system is. Credit is the biggest thing that will impact your financial life. Any major purchase you make whether it be a car, house, or taking out a loan, it will all come down to how low or high your credit is.

As a high school senior who is going to a large public university in the state of Kentucky the realization that I’m going to have to take out some sort of loan is abysmal. The problem is that no credit is worse than bad credit. It’s because when your credit history is searched there is no history. The one selling you the item can’t see if you are reliable if there’s nothing to look at. However, there is hope for teens.

There are plenty of options for teens when it comes to credit cards so they can start building credit.

Journey: Student Rewards from Capital One is a low-fee student credit card that’s ideal for students with decent credit and a for cash back rewards.

So if you’re not worried about your financial future you should be. Most banks have some sort of student credit program that can help you develop good credit at a young age. If you start building now you can make your dreams come true early.