The Truth in Lending Act is a federal law that promotes the informed use of consumer credit by requiring disclosures about its terms and cost, using specific terminology. If you are at least 18 years old and have a regular source of income or savings, you're on your way to qualifying for a credit card . But you'll still have to demonstrate that you are a good customer. The proof is in your credit history, which lists the amount of credit you have received and how faithfully you've paid it back. If you are a full-time student, make sure to include that information on your credit application.
Creditors often assign full-time students lower initial credit lines to start their credit files.
As you advance through college and graduate school, you can always request increases to your credit line. Before you submit a credit application, get a copy of your credit history to make sure it's correct. To order a copy of your credit report , contact Equifax , Experian , or Trans Union . Open a checking account, savings account, or debit card . These do not create your credit file, but their existence will indicate that you have money and show something about how you manage it.