Credit Strategies for Grads

Life after high school marks a time of tremendous growth. As you gear up for new responsibilities, one area that deserves attention is your credit.

A healthy credit score is more than just a number. It's your passport to financial opportunities like renting an apartment, securing affordable car insurance, and even landing a job. But what happens if you’re just starting out and don’t have a credit history?

Here's the good news! You don’t need years of financial experience to begin building credit with Partners. We’re here to support your journey with the right tools and guidance every step of the way.  

Four Strategies to Build Credit:

1. Open a Secured Credit Card

A secured credit card gives you the opportunity to start building credit with minimal risk.

• You place a refundable deposit (e.g., $500), which becomes your credit limit.

• Make small purchases and consistently pay off your balance on time.

• Timely payments are reported to credit bureaus, improving your score over time.

This is a great introduction to credit management and a chance to learn the do's and don'ts before upgrading to a typical (unsecured) credit card.

2. Take Out a Share Secured Loan

Think of this as borrowing money against your own savings.

• You deposit a set amount into your savings account.

• We loan you that amount, which you repay over time with low interest.

• Payments are reported to credit bureaus, establishing a track record of responsible borrowing.

This option keeps your savings intact while helping you demonstrate good financial habits.

3. Become an Authorized User on a Trusted Account

If a parent, guardian, or relative you trust is willing to add you to their existing credit card account, you can benefit from their established credit history.

• Their on-time payments can boost your score.

• You’ll receive your own card for emergencies or regular use.

This method is ideal when trust and communication are solid. Both parties must commit to responsible usage.

4. Co-sign With a Qualified Borrower 

Let’s build credit, together.

Want to learn more? Check out Credit Score by SavvyMoney within online and mobile banking - a great resource to deepen your credit knowledge.
 
At Partners, we'll help you find the best fit for your goals and comfort level. When you're ready to begin building credit, call us at 800.948.6677, visit a branch, or schedule a complimentary 1:1 financial counseling session.