What are some good books for college graduates to learn to establish credit effectively?

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Just open a low cost or free credit card, use 10-20% of your credit line and pay it off each month

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You don't even need to use the CCs anymore. Just opening a CC that is known to report monthly regardless of activity is sufficient (e.g Discover)


Years ago, CC companies only reported accounts that showed activity (i.e report balance). So in order to get that month of good standing you had to use the card. Now most major CC issuers batch report all accts regardless of use


A lot of the old "tips"of credit scores need minor modifications for the modern credit score reporting

1. Open a CC
2. Run it up with bar tabs
3. Pay the monthly minimum.
4. Max it out.
5. Spend a few years paying it off.
6. Learns valuable life lesson.
7. Profit

You don't need a book...or to do anything special other than to use common sense. I was in exactly the same situation as you when I graduated and when I decided to buy my first house, my credit score was shockingly good.

Get yourself a credit card and flush some business expenses and/or household expenses through it...pay it off every month so there is no charge or interest.

also, if you have student loans, pay them off at a reasonable rate when the interest starts to accrue.

do those couple of things and your credit will be golden.

Also pay attention to credit limits. It's the main difference between a credit and debit card (that isn't obvious). Your credit limit will start very low, so be careful not to exceed it. When you get to your limit, pay it off, and it will reset in a couple days. Then repeat as needed

Man its hard to get a credit card these days when you have zero credit history. At least coming from a bankers perspective. The three banks ive worked for make it nearly impossible for someone with no cresit to get approved for anything.

Can't speak for online banks and credit card companies though.