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CHICAGO, IL--(Marketwired - Aug 1, 2013) -  As part of BMO Harris Bank's weeklong financial series on Preparing for School, BMO Harris is providing daily financial tips. Today's tips help prepare college students for the world of credit.

As millions of college freshmen settle into campus life, many are also embarking on their first experience with credit cards. It's important that students understand that having credit comes with responsibility.

The ability to obtain a credit card has become more limited since the college days of the parents of today's students. Individuals applying for a credit card must show they have the ability to pay the amount due. Your ability to obtain a credit card and the credit limit you are given will be determined by a variety of factors based on your credit worthiness; this includes your income, current debt, and debt repayment history.

BMO Harris Bank offers these CREDIT tips to help young adults (and anyone using credit) how to stay in control of their personal finances:

Carrying a bal ance costs money; it is recommended that you pay off your balance in full each month.

Records follow you everywhere; pay your bills on time to keep your credit history and credit report clean.

Errors occur, so check your monthly statements for accuracy and review your credit report annually.

Doing a budget discourages over-spending and helps you save.

Information is power, so keep yours secure; be careful with whom you share information. This includes giving account and personal information over the phone, on-line, and in-person.

Talk with your card issuer; in case of any problems, it's the first step toward resolution.

Establishing good credit, savings, and budgeting habits early can help young adults avoid costly mistakes. It also helps launch a solid credit record, which can affect the ability to make large purchases, such as a car or home. Parents can play an important role by setting a good example and by educating their children at a young age how to be a financially-smart consumer.

For more personal finance tips contact your local BMO Harris personal banker or visit: www.bmoharris.com/helpfulsteps.

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan products and services provided by BMO Harris B ank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and $555 billion in assets (as of April 30, 2013). Equal Housing Lender.