(BPT) - When you look at your 5-to-10-year life plan, is a new car, wedding, or buying your first home on your vision board? There is one key behind the scenes that you need to unlock access to funds to reach these goals: a good credit score.

A good credit score can make accessing credit easier and less expensive. But how do you build one? Applying for and obtaining a credit card can be a good first step.

"Credit is a powerful tool to help young people manage daily expenses and reach important life milestones," says Max Axler, Chief Credit Officer of Synchrony. "That is why it is important to learn responsible credit habits well before you apply for your first credit card."

Here are five tips for responsibly building credit for first-time credit card holders from the experts at Synchrony:

#1. Think of your credit score like a GPA

Credit scores are like grades in school. Just as good study habits can lead to a good GPA, responsible credit habits lead to a good credit score. A higher credit score is like a ticket to financial freedom that can make it easier to qualify for loans and to purchase things you want and need down the line. And just like you improve your grades in school, you can improve your credit score by staying on top of your spending, your payment due dates and staying within your means. You can even set up autopay to make sure you don't miss a payment just as you would set up specific times each week to study.

#2. Choose your first credit card wisely

When used responsibly, credit cards are often the easiest and most effective way to build a credit profile. There are many different types of credit cards and picking the right one for your needs is important. A store credit card, that can be used at a specific store, is a great option for those with little or no credit history.

"There is typically more flexibility in approving applications for store cards," says Axler. "They have lower credit limits and can only be used in-store, which is often more manageable for beginners, and also offer special promotions and perks while shopping at your favorite stores."

Another option is a secured credit card, which employs a simple, responsible spending concept. To open a secured card requires a cash deposit and the amount deposited becomes your spending limit. Because you are using your own money for purchases, it's like a debit card, but helps build your credit history.

#3. Make good credit habits a lifestyle

Once you've got a card, stick to habits that will help boost your credit over time. The most important habits are:

• Pay on time: Missing payments can seriously hurt your score, so setting up autopay for the bills to automatically withdraw payment from a bank account monthly is a good option. But don't just set it and forget it. "It's important to still monitor account activity to keep track of spending," said Axler.
• Keep your balance low: Stay below 30% of your credit limit, as this shows you are managing credit wisely and not spending beyond your means.
• Only spend what you can pay off each month: It might be tempting to splurge, but a credit card is not free money. Carrying a high balance means more incurring interest charges which will cost you more for your purchase.

#4. Use free credit checks to stay on track

Check your balance frequently to track spending and monitor for any errors or potential fraud on your accounts. Balances can creep up quickly if you are not paying attention.

And, checking your credit status is free and simple! The three large credit bureaus - Equifax, Experian and TransUnion - offer access to your credit reports on their websites for no charge. You can also get a free copy of each of your credit reports from the three credit bureaus on AnnualCreditReport.com.

Even if you've never used a credit card, it's a good idea to check what's currently in your credit file to ensure you have not been a victim of identity theft.

#5. Learn responsibility as an authorized user

Not ready for your own card yet? You could ask a parent or family member to become an authorized user on their account. This means you get a card in your name, but it is linked to that family member's account. It's a lower-risk way to start using and building credit.

This approach is advisable on a card with a low credit limit, because it is a safeguard from racking up too much debt - which would hurt both of your credit histories.

If you go this route, make sure you understand the boundaries with your family member and spend responsibly. Check in with them and review your spending together to avoid any surprises.

Remember, your credit score is based on a lifetime of transactions. By starting your credit journey on the right foot today, you will pave the way for a healthy financial future and achieving your dream purchase goals of tomorrow.