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Posted: April 20, 2017
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Riverwoods, IL, April 20, 2017 – School’s almost out, and while summer break is typically reserved for fun, it can also be a prime time to establish smart financial habits—such as budgeting and building a credit history—and set yourself up for financial success next school year and beyond.

Give your finances a boost this summer by doing these three things:

1. Find a job and start budgeting: A summer job is a great résumé builder and an opportunity to add cash to your wallet or savings account for the school year ahead. Once you know how much money you’ll make, create a budget based on your income, what you’ll need to buy each month—such as gas and food—and how much you’d like to save during the summer. Having a budget in place while you’re in college will also make it easier to manage a budget once you graduate and transition to adulthood.

2. Figure out where your credit stands: Your credit score is a three-digit number that is used to assess your credit risk for when applying for a car loan or leasing an apartment. The number is calculated based on data from your credit reports, such as the amount of money you owe to creditors, your payment history, length of credit history and types of credit (e.g. revolving loans like a credit card and/or installment loans like a student loan). Building a credit history takes time, so it’s important to figure out where your score stands, or if you don’t have a credit score, to start building one. Start by checking your FICO® Score and the factors that go into your score at at no cost, even if you are not a Discover customer. The higher your credit score, the more dependable you are as a borrower in the eyes of a lender, which can give you access to better rates and terms when it comes time to take out a loan.

3. Use a credit card wisely and make sure it fits your needs: Credit history is a key factor in your credit score as it shows your ability to reliably repay your debts. Using a credit card and paying it off on time each month is one way to build a credit history. If you are shopping around for a credit card, it’s important to do your homework and compare various options to determine what’s best for you. Research if there is a student-focused credit card that is right for you. The Discover it® chrome for Students card offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and $20 cash back each school year your GPA is 3.0 or higher for up to the next five years.  To be eligible for the Good Grades Reward, you must indicate on your application that you’re a student and your account must be open when you request the reward. However, the most important thing to remember with a credit card is to always pay your bills on time. Late or missed payments can negatively impact your credit score.

Once you’ve thought through your financial plan for the summer, it’s time to put it into action. Prepare your budget and stick to it, and check your FICO® Score often. Getting your finances in order takes time and energy, so help yourself out and start good habits now that will help you in the future.

Brought to You by Discover

Discover Student Credit Cards
The Discover it® chrome for Students and Discover it® for Students credit cards offer students a great way to build credit early in their lives. These student cards come with many benefits including rewards on popular student categories, options for support if they miss a payment and resources to help students understand their credit information and manage their finances. For more information, visit

About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

FICO® Credit Scores provided by Credit Scorecard are based on data from Experian and may be different from other credit scores. See to learn more. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

Media Contact:
Brittney Mitchell


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