College students’ primary concerns while they’re away at school are their studies, but credit news and research website IndexCreditCards.com says they should also make maintaining a strong credit history a priority as well.Unfortunately some processors target the student loan and financing industry in hopes of luring in unsuspecting students into one of their payment processing plans. One of the reasons why is because college students often make their first large purchase at this stage of their life by buying a car. The website reminds students that the better credit history they have, the more likely it is that they’ll be approved for a low interest car loan.

Another reason why college kids should handle their credit with care is to impress employers after graduation. While there are restrictions, many employers these days are checking applicants’ credit reports to see how well they manage their money, as this may be an indication of how well they will handle their jobs.

Finally, the site says strong credit gives college students more spending money, something many of them often desperately need. By paying off bills every month, college students can avoid late fees and interest charges, giving them more money to use for entertainment and necessities.

During and long after life at the university, it’s also advisable for consumers to review their financial histories, looking for unfair or inaccurate credit marks. These discrepancies may lower credit scores, making it more difficult to obtain a loan for a home or other purchase.

Because many employers consider applicants’ credit histories in the interview process, CreditCards.com is offering job seekers with some tips for how they can improve their scores.One of the most important ways, according to Andrew Bernstein, a personal finance counselor for a debt resolution service, is for consumers to obtain copies of their credit reports and look them over for any items that may be unfairly lowering their score. If any are spotted, Bernstein recommends disputing them with the help of a credit repair attorney.Another way consumers can improve their financial history is to make an assessment of their payments. If bills aren’t being paid on time, it’s a good indication consumers are spending too much. Bernstein recommends pursuing cost-cutting methods such as looking for coupons in the newspaper and shopping for generic store brands at the grocery store.

While these tips can help improve consumers’ financial standing and make them more appealing to companies that are hiring, Bernstein also said that employers should not ask for applicants’ credit scores, only their credit histories. As it is, only 13 percent of employers check credit histories, according to the Society for Human Resource Management.

The chairman of the National Association of Home Builders recently called on lawmakers to pass legislation that would reinstate higher loan limits for consumers who are seeking to refinance their mortgages.The upper loan limits for mortgages which could be backed by Freddie Mac, Fannie Mae and the FHA dropped on October 1. However, some lawmakers are working to restore those higher limits for the FHA, which is popular among first-time buyers. NAHB chairman Bob Nielsen urged quick action.

“The FHA program is fully self-supporting, and a great example of a public-private partnership with lending institutions,” said Nielsen. “Restoring the loan limits will provide millions of potential consumers in markets throughout the nation access to safe, affordable mortgage financing.”

Nielsen added that restoring the loan limits will help revitalize the housing market and “ensure that millions of creditworthy borrowers can access the best possible mortgage rates.”

Access to prime lending rates may be complicated if there are any unfair marks left on credit reports. Consumers should be watchful of these errors so that their financial histories are accurately portrayed.

Lawmakers have introduced a bill in the U.S. Senate, The Empowering States’ Rights to Protect Consumers Act, that would restrict how much interest credit card companies and lenders could charge consumers.”It’s time to stop Wall Street banks and their credit card subsidiaries from taking advantage of struggling families … across the nation,” said Rhode Island Senator Sheldon Whitehouse, the chief sponsor of the bill. “This legislation would restore historic, long-standing states’ rights to protect consumers from improperly high interest rates.”

Alaska Senator Mark Begich, one of six other senators who have signed on in support of the bill, said the legislation would level the playing field for consumers and prevent credit card companies from charging unfair interest rates.

Should the bill pass through Congress and be signed into law, it could lead to lower interest rates on credit accounts. However, it won’t be able to prevent unfair or inaccurate information that can mar consumers’ credit scores. Individuals should review their financial histories to make sure their scores are based on properly reported information