Building A Good Credit Score After College
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Aside from a tough job market, new college graduates also face a challenging credit landscape this year. Credit tightened in the recession, and a recent survey shows bank executives don’t think creditors are ready to relax their grip yet. The survey, conducted on behalf of FICO by the Professional Risk Managers’ International Association, asked bank risk professionals for their predictions in consumer credit trends. Most expected credit limits for new credit cards to be lower than in the past and predicted a similar or lower acceptance rate for credit card applications.

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So if you’re a new graduate, how do you build a credit history if you can’t get credit in the first place? It’s a little like trying to find your first job when every employer will only interview applicants who have experience.

Here are some tips to get started:

Be prudent.

“Don’t be a kid in the credit candy store,” advises the National Foundation for Credit Counseling. Each time you apply for credit, an inquiry is made on your credit reports, and too many inquiries can lower your credit score. If you apply for…………… continues on

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