After graduating from college last fall, Jennifer Grant took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin establishing her own credit history. Describe for Jennifer several steps that she could take to begin building a strong credit record. Does the fact that she took out a student loan for her college education help or hurt her credit record?

Here are some things you can do to build a strong credit history:

• Use credit only when you can afford it and only when the repayment schedule fits comfortably into the family budget—in short, don’t overextend yourself.

• Fulfill all the terms of the credit.

• Be consistent in making payments promptly.

• Consult creditors immediately if you cannot meet payments as agreed.

• Be truthful when applying for credit. Lies are not likely to go undetected.