Re: College Student wants to cancel credit card. Please Help!
I managed to buy a house without ever having a credit card, I was also told by those older and wiser than me that I would need to have a credit card to have a credit rating, but I found that wasn't true. When I was a student I had two clothing accounts, both were interest free store cards, and I used them both on a regular basis but always kept the levels relatively low, low enough for me to afford them anyway. It helped that they were both interest free but there were the odd months that I couldn't afford the minimum repayments, you know what it's like when your a student, sometimes even a dollar seems out of reach! Anyway, I applied for a mortgage whilst doing a post-grad degree, I had 2 part time jobs, and the broker told me that I had a good credit rating. Those 2 store cards were the only credit I had ever used.
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