When you are a student a credit score is a fairly abstract concept. All you want is access to funds to pay for the things you want and need like clothes, food, rent, books and tuition. Student credit cards can be a great tool for being able to acquire the needs and desires that confront all college students but like all tools they need to be handled carefully. But it is ultimately your credit score that will determine how you will lead your future financial life and vice versa.

Studies show that a student’s first credit card usually stays in their wallet well into their 20’s and sometimes well beyond. It quite often is a major factor in constructing a payment history that the credit rating agencies rely on to create your credit score. And it is the credit score that all lending institutions will use to gauge whether you are a safe credit risk for their loans or credit cards. It’s therefore essential that students always pay at least their minimum payment due on time and avoid late payments to build and keep a good credit rating. But it is equally important to stay out of debt as much as possible while in school. It is hard enough starting out in the real world with a new job and new apartment without having to saddle yourself with a mountain of credit card debt.

A basic credit building tactic involves getting a student credit card and staying within the credit limit to purchase clothing, school supplies, food and other essentials while at school – and making promp payments when the bills come due.

Once you get the ball rolling all it takes is to use credit as a tool to acquire the things you need in life while consistently paying back what you owe, always on time with at least the minimum payment amount. A history of late payments will take your credit rating south in a hurry so be diligent and don’t wait until the last minute. And don’t let your outstanding balances pile up – apply the same discipline you have as a student to keeping your burgeoning financial life in balance.