re: Building Credit Score

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the student loan people are supposed to remove all negative reports to the credit agencies

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I didn't think this was possible, but could be mistaken. But I digress.

It's true that having a high credit utilization rate from the large purchases will temporarily ding you. But so long as they are paid off by the time you apply for a loan it won't matter, because what counts is your utilization rate at the time you apply.

Probably the biggest thing that will help is just waiting until bad items fall off your report. By law they must be removed seven years after they are first reported. Once it's been seven years you can call in and have them removed if they haven't been already.

Otherwise it's just making sure you pay the bills on time, it's about the simplest financial plan out there.