College is not just about partying and breaking all the rules your parents subjected you to while you were growing up … It’s also about, you know, preparing for your future and all that.

Once you leave college and enter the “real world,” you are going to quickly realize there is something really important you need to develop: good credit.

Here are some of the things that having good credit makes easier: renting an apartment, taking out a car loan or lease, getting a good cell phone plan, cheap insurance and eventually getting a mortgage.

All kind of important, wouldn’t you say?

Unfortunately, while most college students are focused on improving their earning potential, they put off building credit. This is a shame, because there is an easy way to start building up your credit score in college: Get a credit card and use it responsibly.

There are a lot of misconceptions about credit cards among college students. It seems like most of us either see credit cards as the tool of the devil that must be avoided at all costs, or as a way to make it rain by getting everything we ever wished for (and more) and not worrying about paying for it.

Both viewpoints on credit cards are limiting. It is possible to use credit cards in a responsible, constructive way. In fact, with the help of credit cards, you can build up your credit score so that, after college, you can take advantage of all the benefits that we’ve already discussed.

Here’s how to do it:

Step 1: Apply for a credit card that has no monthly or annual fee. You may need a co-signer if you are under age 21.

Step 2: Set a small monthly budget. Only allow yourself to charge what you know you can pay back every month. Your credit score will build up as you make full payments on time.

And that’s it! As your credit score improves, you may be eligible to apply for credit cards that give you special rewards and other bonuses.

Just remember this: Credit card companies want you to spend above your means. That is how they make their money. Don’t fall into that trap. Get into the habit of only charging what you can fully pay back every month.

For more information about credit and credit cards, call us or stop by one of our branches today.