One of the most rewarding things for a young person is gaining financial freedom, but getting there can be tricky especially for a college student. I decided that I need to learn how to build credit with a credit card. The first thing I did was to become an authorized user on my parents' credit cards. I used this opportunity to demonstrate my ability to handle financial responsibilities. This also enabled my parents to monitor my spending habits.
After demonstrating my ability to handle my finances, I decided to get myself a credit card. Since I had trouble qualifying for a regular card, I got myself a retail card. These cards have less benefits and lower spending limits, but they are just right for a student. After I qualified for a regular credit card, I did some research and found one that was just right for me. It had the most benefits and low interest rates. Initially I used this credit card for emergencies only. I also used it for occasional purchases, while most of the time I did my shopping in cash. I also made regular and prompt payments of my balances at the end of the month. I also paid my entire bill on time.
The final step that I took to improve on my credit rating is that I used my student loans to pay only for educational expenses. I also paid for these expenses on time. I also made the decision to have only one credit card. This is because if I apply for too much credit in a short space of time, my credit score will fall.