Nishant Deshpande was a dedicated saver all through college, socking away money from his internships at Robert W. Baird & Co. and other businesses.

So in his senior year at University of Wisconsin-Milwaukee, and with more than four years of regular deposits into savings accounts, he was surprised that his bank turned him down for a credit card.

Deshpande had a job lined up after graduation, but what he lacked was a history of debt repayment that’s a major factor in determining creditworthiness.

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