Hello from the middle of the Pacific!

For those of you that don’t know I have taken a break from land and have decided to spend the next four months at sea studying abroad with a program called Semester at Sea. Why would I ever want to be on a ship for 4 months with little internet access you ask? Because I get the once in a lifetime opportunity to travel the world and visit over 11 different countries as well as interact with over 600 students, of which 75 are international (shout out to my buddy Kuba from Poland and Matt from South Africa). I also get the privilege of learning from experienced professors, faculty, and having meaningful conversations with the “lifelong learners” we have on the ship. 

I know that is a lot to take in (try actually experiencing it, I am exhausted), but I want to keep everyone as updated as possible. I am planning on documenting all of my travel on this blog as well as write about the financial aspect of studying abroad and traveling in country (because trust me, I have been planning for this trip for over a year). This is going to be a jam-packed full semester of traveling; to China to experience their New Year in Hong Kong, hot air ballooning in Bagan, Burma, visiting Varanasi and the Taj Mahal in India, snorkeling in Mauritius, going on a safari in South Africa, and trekking the Sahara Desert in Morocco. I definitely want to be able to capture my experience as much as I can for the folks back home. Click here to read about my specific program and in detail the places I am going, Semester at Sea.

I am planning on writing the posts while we are at sea and then I will post them once I get to the next port. When I talk about “slow Wi-Fi speeds” I mean dial up from when we were watching PBS kids and all of our parent’s bobs were “cool.” This is the biggest adjustment because I did not realize how much I depend on technology and being connected to everyone, however, it is also a challenge that I am happy to accept and grow from. If anyone has any questions they would like to ask me, I would love to hear from you! The best way (and the only way… ha) is to email me from my “seamail” account at caroline.corley.sp19@semesteratsea.org. I would love to answer any/ all questions you have as well as hear about what is going on back in the 30062 and 40508. 

Alright, it is 23:11 and I have been up since 06:45 because I forgot to set my clock back manually so it is time to hit my cabin. You don’t realize how exhausting it is living on a boat until you actually do it and realize it isn’t all a vacation. Today I was sitting at the pool enjoying the sun, when I was almost late for my three hours of management classes and have two hours of homework. That's okay though, because this experience is all worth it. 

Bon Voyage, 

Caroline Corley 

Credit… the thing we all know about but can never figure out.

So many of us know the importance of building credit, but we are also faced with the challenge of getting started. Simply getting a credit card is way harder than it should be. I don’t know about you, but ever since the ripe age of 13, adults around me told me about how important good credit is. Does anyone else remember the freecreditreport.com commercials… because I do, and I am currently singing it in my head as I write this (click for the song I have stuck in my head). We all know what credit is and that we need it, but we don’t really know how hard it is to start the whole credit process- at least I didn’t. I have had so many frustrated friends come to me not knowing how to open a credit card or after being denied a credit card. So, I decided to talk about what I did to open my first credit card and how you can learn from my mistakes.

Step One: Research

I feel like every post I write has something to do with research; I love doing research. We have a wealth of knowledge right at our fingertips! Imagine trying to do this thirty years ago when the Internet wasn’t even a thing... (sorry adults who didn't have this advantage) I started to figure out which credit cards would be right for me and what it would take for me to get them. Remember, though, you probably have 0 credit, so don’t think you can go apply for an Amex and get approved. A website that really helped me was Nerd Wallet . They compare cards that are right for college students and have lots of reviews.  

Step Two: Why are you opening the card?

Once you begin your research, you need to ask yourself why you are wanting a credit card in the first place. If the answer is to go shopping or go on vacation, ABORT THE MISSION AND GET CREDIT CARDS OFF YOUR MIND! You always hear credit cards are bad or that no one should have one. I think that if you are going to be irresponsible then a credit card just is not for you. I originally opened up a credit card because I knew I needed to start building credit up when I did not have too many real adult expenses (rent, insurance, etc.). Everyone wants all the cool travel points and rewards but you have to start basic first.

Step Three: Application

This is something that hurt me and is keeping my score a little lower than it should be. The number of times you apply for different credit cards are recorded, and this affects your credit score. You have to make sure that you do your research before you apply. I spent countless hours researching and found two college-friendly credit cards to apply for: The Discover IT Student and the Citi Thank You Card for students. Want to know what is funny? I got DENIED by both “college friendly” cards! I was so offended because I have never had an overdraft on my checking account, and I have always been financially responsible. How am I supposed to build credit if no one will give me a chance?  Anyways, I decided to take an alternate approach and go through the bank I do my personal banking with.

Step Four: Application (again)

I decided to walk into my local bank where I had both my checking and savings account and have a face-to-face conversation with a bank teller. I was hoping that they would see that I was a responsible young adult that just wanted to open a credit card to build credit (I promise I am not going to buy multiple trips to Italy and charge it). Anyways, it took about 30 minutes and she was super nice and told me I was approved for the “college card” that had a low credit limit. I didn’t mind because I wasn’t planning on charging a lot on the card and honestly, I was just excited I got approved for something.  

Step Five: Approval

YAY! You have finally been approved for your first adult credit card. This is a very exciting moment because it means you are on a path to build great credit and spending habits which is crucial when we are young adults. Here are 4 quick tidbits to help increase your credit score:

1. I would open an account to track your credit history (I love Credit Karma) and also read up on how to maintain good credit. Do not be alarmed when you get your first credit report and your score is low... it’s something you have to work for.
2. Whatever your credit limit is, make sure you do not spend more than 30% of it to help increase your score.
3.  Use it once or twice a month... I recommend putting something that is charged monthly on it (aka your Spotify, Netflix, Fabletics accounts). That way your card is always active and you know the exact amount you need to pay off every month
4. PAY YOUR CARD OFF! You should never miss a payment. That is a big credit NO-NO. You do not want the interest on the amount and you also don’t want to get dinged for bad spending. I would recommend setting up auto pay from your checking account if you can. If you can’t do that, I recommend setting an alarm the day before its due to make sure you pay it off.

 Follow this advice and you should be on your way to opening your first credit card and earning great credit! If you have any questions regarding credit/credit cards leave me a comment and I will get back to you ASAP!

 Best,

Caroline