Updated almost 10 years ago on . Most recent reply
college student wants to develop good credit
My son is currently a college student learning about investing and flipping houses with our family. He currently has no debt but will if he continues with college. He wants to develop good credit in order to buy his first flip. He currently has 2 credit cards with little balance. Should he get more credit cards or not to improve credit? Other suggestions for building his credit would be appreciated. He works low paying jobs currently. Also want to know how to best fund college. Thanks.
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
welcome to the site.
You don't want him to open a whole bunch of cards as multiple inquiries can hurt his credit.
A few credit cards with low balances relative to the credit limits would be what he would want to do.
& of course always paying on time.