Your Credit Score: After College, It’s the One Grade That Matters Most

IMG_1263After the last exams are completed and final papers are handed in, college seniors breathe a sigh of relief, thinking their futures will no longer be dictated by grades and numbers. But they’re wrong. Walking the stage at graduation and into the “real world” leads to the time when you start being evaluated on a far more critical number than your cumulative GPA — your credit score.

From the moment you establish your first line of credit, America’s three major credit bureaus — Equifax, Experian and TransUnion — are tracking you. For many college students, this starts the moment they take on a student loan. Others may start with a credit card. Regardless, it’s important for students to start building their credit history well before graduation — and it’s important to take it seriously, even early on.

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3 comments on “Your Credit Score: After College, It’s the One Grade That Matters Most
  1. Micro says:

    I’m going to comment here since Daily Finance’s comment system is a little wonky (aim…really). When I first was reading this, I was thinking about how credit score is only really used for things like a car and house purchase. How often will people have those in their lifetime. Then I started thinking about it, I’ve had credit scores run for work too. It’s not just future loans than your credit score can affect, but future sources of income too.

    Luckily subsidized loans count as on time payments towards your credit score. Found that one out when I got my first credit card at the local credit union with my girlfriend at the time. I had a higher score than she did and she had had a credit card since she was 16 and always had on time payments. All I had at that point were the student loans. I thought it was hilarious although she was not amused.
    Micro recently posted…Settle your debt for less than the full amount – The debt settlement process in detailMy Profile

  2. Awesome post, Erin! It’s kind of sad that our whole lives are judged based on this slightly arbitrary number, but from the employer, landlord, and creditor’s perspective, it’s really valuable.
    Ben @ The Wealth Gospel recently posted…Amazon Smile: Online Shopping Just Got a Little More AwesomeMy Profile

  3. Loving the post. You’re very right, credit scores are the most important grade we have. Thanks for bringing that to light for recent college grads! See ya around!
    Joshua from CNA recently posted…The First Steps To Take When Repairing Credit ScoresMy Profile

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