College life is full of exciting opportunities, but it also comes with real financial responsibility. It’s the perfect time to learn how to budget as a college student and begin building your credit score early. At Northwoods Credit Union, we’re here to help you build strong financial habits from the start.
What’s a Good Credit Score for a College Student?
Your credit score is a number between 300 and 850 that shows how trustworthy you are with borrowing money. It’s used when you apply for credit cards, loans, apartments, and even some jobs.
Here’s a breakdown:
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300–579 = Poor
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580–669 = Fair
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670–739 = Good
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740–799 = Very Good
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800–850 = Excellent
So, what’s a good credit score for a college student?
Most college students start in the fair to good range (580–700). That’s totally normal. The important thing is to build it slowly over time by using credit responsibly.
Build Credit with Northwoods Credit Union Credit Cards
We offer two student-friendly options that help build credit while keeping costs low:
Platinum Low-Rate Card
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No annual fee
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Lower rates for responsible spending
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Ideal for carrying a small balance
Platinum Rewards Card
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Earn points on every purchase
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Redeem for cash, travel, or merchandise
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No annual fee
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Perfect if you want to earn rewards while building credit
Both cards come with no balance transfer fees, fraud protection, and local service from the team at Northwoods CU.
How to Budget as a College Student
Making a budget helps you manage your money so you can afford what you need—and even what you want—without falling into debt.
Easy Steps to Start Budgeting:
Limit your monthly income
- include money from a job, financial aid, scholarships, or family
Track where your money goes
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Rent/housing
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Groceries
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Gas or public transportation
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Subscriptions
Set Spending Limits
- Decide how much you can safely spend in each category.
Set a savings goal to stay motivated
- Saving for something specific – like a concert, spring break trip, or new laptop – can make it easier for you to stay on track.
Avoid Impulse Spending
- Wait 24 hours before making big or non-essential purchases
Visit Northwoods Credit Union – We’re Local!
We serve students and members throughout Minnesota, with convenient branches in:
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Moose Lake
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Floodwood
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Stanley – Cloquet
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Avenue B – Cloquet
We offer local service, friendly faces, and personalized financial advice, whether you’re just starting out or looking to take the next step.
Get Started with Northwoods CU
- Apply for a Platinum Low Rate Card or Platinum Rewards Card*
- Visit your local branch for budgeting help or credit-building tips
- Learn more about student loans and refinancing on our website
Ready to start building your credit and budgeting with confidence?
Visit us at any Northwoods Credit Union branch or apply online today.
*Not all Applicants will qualify. Northwoods Credit Union is federally insured by the NCUA and is an Equal Housing Opportunity lender. Click here for credit card disclosures and rates,