 TITLE: How to Get Started With Credit in College CONTENT: Get a Secured or Student Credit Card\n------------------------------------\nA secured credit card can be a great option if you don't yet have a credit history and don't qualify for an unsecured credit card. The biggest difference between the two is that with a secured card, you have to put down a security deposit to guarantee your credit line.\nOftentimes, your credit line will be the same amount as the deposit—so if your deposit is $250, that's how much you can spend. Once you've established a history of on-time payments, the bank or card issuer may give you the option to switch to an unsecured credit card, meaning one that doesn't require a deposit. In that case, you'll get your deposit back and have a standard credit account. The better your credit gets, the more likely you are to qualify for unsecured credit cards based on your credit score and history.\nThe benefit of a secured card is that it's easy to get even if you have little to no credit history—or a \"thin file\" in credit-speak. Even better for building credit history, the issuer will likely report your account activity to the three main credit bureaus (Experian, Equifax and TransUnion), just as they do with unsecured credit cards. Just be sure to check any secured cards you're considering to find out whether they do report to all three bureaus (some may report to just one or two). That's how you build credit history, so it's important to pay your bills on time and avoid maxing out your credit line. On-time payments and low credit usage are two of the biggest factors that go into calculating your credit score.\nIf you're 18 or older, enrolled at a college or university, and earn an income (even from a part-time job), you may qualify for an unsecured student credit card. You're likely to get a lower credit limit with a student card than with a standard credit card, usually $1,000 or less. But that can actually be a good thing. Lower credit limits mean less risk for lenders, and less risk means they can be more flexible in their approval criteria. Another perk of student credit cards is that they sometimes include bonuses such as discounts on school-related expenses and even cash back rewards. END