The Benefits Of Building Credit

girl holding credit card

As a young adult, going out into the world on your own for the first time, college students need to learn the importance of the proper use of a credit card. Credit reports are essentially a financial report card, and it’s important to be aware of your marks and make sure they are correct. We’ve gathered some facts and tips to help those starting their credit journey.

The Facts:

  • About 40 percent of college students reported charging items knowing that they could not afford to pay for them.
  • Approximately 60 percent of college students stated they were surprised about the amount of their credit card debt.
  • Approximately 50 percent of college-age cardholders have four or more credit card

 For more statistics on college students and recent graduates, click here.

The Importance of Credit:

Maintaining good credit can provide you with more borrowing options and more favorable interest rates. It won't necessarily provide the BEST possible rates and terms as credit is only one factor.In addition, employers, insurance companies, landlords, cell phone providers, and more may use your credit history when they make decisions about you.

 Young adults have enough to worry about…learning the basics of credit can prevent sleepless nights spent tossing and turning fretting about credit reports.

Why college students need a better night’s rest:

  • 68% of students have trouble falling asleep due to stress
  • 20% of students pull all-nighters at least once a month
  • 12% of students that have trouble sleeping fall asleep in class a minimum of 3 times a month.

 For more statistics on college students and sleep deprivation, check out the sources below: 

National Institutes of Health 

Anderson University Study 

So, what's the first step?

We invite you to come to one of our nearby locations to view our collection of mattresses and learn about financing options available to you.


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