Establishing a credit history might be easier for students while still in college.

Mollie Kelley, the financial health coordinator for the Health Education Resource Center, said credit cards are considered to be an easy way when one wants to set up a credit history.

“Everyone has a credit report,” she said. “If you decide not to open up a credit card in college, it is going to be hard to get loans, a car you may want or sign for a mortgage on a home in the future.”

Kelley said when students decide to open up some form of credit, such as a credit card, they should make sure they are smart about the situation.

“Make wise decisions,” she said. “Credit cards are not free money. It is a convenient fact.”

Kelley said students should check their credit reports every four months.

“It is really important to check your credit report,” she said. “This is one way to catch identity theft. The report is just an overview of anything you have taken out because if someone opens up something in your name then you can catch it.”

Kelley said she recommends students to open up a credit card as early as their freshman year in college.

“Usually, the cards should be only used for emergencies,” she said. “It’s just nice for the child, so they will not be stuck in certain situations.”

Kelley said students could buy necessities on a credit card such as groceries, and immediately pay it back in full.

Kelley said when students decide to open up a credit card they should open it up with their bank.

“It is a smarter idea to start with the bank,” she said. “The bank is more student friendly.”

Kelley said when money is paid back in a timely fashion on credit cards, students can gain long-term -benefits for having good established credit.

Kelley also said credit cards offer reward cards for people if they use them wisely.

“All of the airlines have one,” she said. “You can gain points towards free airline tickets. Mine is built that I am able to gain points for free iPods and even a flat screen TV. These are just things people can work towards.”

Kelley said the credit offers the card has might be difficult for students to understand.

“They can end up paying more,” she said. “Plus there can be hidden fees such as interest rates, membership fees, annual percentage rates. That is why you go to the bank because they might know you and choose the card that is best for you.”

Kelley said no more than one credit card is needed.

“Personally, I have one credit card and one debit card and see that as more than enough, but everyone’s situation is different,” she said.

Kelley said another way to form a solid credit report is by taking out student loans.

“Student loan companies know you are taking money out for education and know you’ll pay it back,” she said. “Credit agencies see this as a good form of credit also.”

Jessica Leggin can be reached at 581-7942 or at jmleggin@eiu.edu.