When you graduate, you will leave your institution with two significant numbers. The first is your grade point average (GPA), which represents the level of academic success you attained while in college. The second, your credit score, is a numerical representation of your fiscal responsibility. Although this second number might be less familiar to you than the first, it could be a factor that determines whether you get your dream job, regardless of your GPA. In addition, twenty years from now you’re likely to have forgotten your GPA, while your credit score will be more important than ever.

Your credit score is derived from a credit report that contains information about accounts in your name. These accounts include credit cards, student loans, utility bills, cell phones, and car loans, to name a few. This credit score can determine whether or not you will qualify for a loan (car, home, student, etc.), what interest rates you will pay, how much your car insurance will cost, and your chances of being hired by some organizations. Even if none of these things is in your immediate future, now is the time to start thinking about your credit score.

Although using credit cards responsibly is a good way to build credit, acquiring a credit card has become much more difficult for college students. In May 2009, President Barack Obama signed legislation that prohibits college students under the age of twenty-one from obtaining a credit card unless they can prove that they are able to make the payments or unless the credit card application is cosigned by a parent or guardian.