| Internal Controdictions
I'm confused. The auther asserts that "student name only" credit cards are not needed to start building a credit agency file, but the first criteria listed for starting a file is having a loan or a credit card account for at least 6 months. How does a young person take out a loan or get credit card with out a credit agency file, except through the now eliminated student credit card programs? Isn't that a sort of catch-22?
The classic advise was to grab a couple of credit card offers in college; put them on automatic payment to a parent-monitored checking account with overdraft protection, to build a credit history. Once graduated, while job hunting or in that first job, credit card companies will not look at you.
They can't really be serious about sending college students across country to school, or functionally looking for jobs/internships or that first apartment in a distant city without credit in their own name. What were they thinking?!
Amendments anyone?
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