The only real benefit you will be getting from a higher score is the fee you will pay the insurance companies for your loans. For example the mortgage insurance will be 20% lower.

However, due to significant drops in stock holdings, the loans may include some increases that variate from one year to another, as the result of the stockholders needs!

If you have a credit card for 15 years, with absolutely great history of payment, hold to it indefinitely. You might need that one in the future. If you take new accounts, it might give the impression you had some struggle with debts before.

Any how take it easy, soon you’ll be in my age (71) and then nothing will matter anymore. Smile you are on the camera!

This gives the young person the chance to prove that they can handle a lower line of credit while they are still young.

Most have a higher APR and are more restrictive. You may want to check with your local banking institiutes regarding their policies about this practice.

I would suggest opening a secured credit card instead. It’s the same thing, basically and gives you the opportunity to build credit AND learn how to manage money as well.

With a secured credit card you must put money on the card to use it. If you don’t have any money on it, you can’t use it.

Bank of America offers this to it’s customers and after ?9? months of proving you can pay your bills, turns it into a regular credit card. That sounds like a better plan to me.

Good luck.

Many BIG issuers have gotten into the ‘student credit card’ game. To see a complete list, visit:

http://www.asapcreditcard.com/student-cards.html

When you decide to upgrade to a ‘regular’ credit card after school– don’t worry too much about closing the old account. Although it will have a slightly negative impact– it’s only short-term.