For the under-21 crowd at your school, new laws are being put in place to make getting a credit card tougher than it has been in the past. One major change requires the majority of those under 21 to have a cosigner in order to qualify, making the 21st birthday a rite of passage in yet another way.

Credit scores are very tricky to figure out. While some guidance is available, no definitive formula is available for public viewing.

President Obama recently signed the Credit Card Accountability Responsibility and Disclosure Act of 2009, which aims to protect consumers from industry practices that have been criticized for trapping users under piles of debt.

We all know student loans can add up – especially when in an extended graduate program or residency. Often, forbearance is the best way to avoid being buried under piles of monthly payments. But will it hurt your credit score?

Deciding when the appropriate time is to get your first credit card is a tough call. Do you start early so you can build credit sooner? Or do you wait until you have some cash flow before you mess around with credit?

No matter how cautious you are with your credit card, identity theft can still happen to you. And the consequences can not only be annoying, but they can also derail you from reaching your financial goals.

FICO continues to be the standard for determining your credit score. And along with everything else that’s changing in the financial world, soon a new FICO formula will be released too.