Financial Literacy Credit Series: Set Bills Up in Your Name

If you do not have credit cards make sure you have other accounts in your name like your utility bills, cable, internet, and cell phone bill. Set these up so that you can start establishing positive patterns of behavior and a history. In order to do this it is essential that you make all of your payments and they are made on time. If you can do this it will show lenders and credit card companies that you are responsible and can be trusted to make good on your obligations of repayment to them.

Once you have done this and have established this history and patterns of behavior, you will have a better chance to be approved on an auto loan or approved for credit cards. Don’t get frustrated, it will probably be a slow process to improve your score, but you will see it improve and this will keep you moving in the right direction.

For all of LearnKey’s Financial Literacy Month resources, visit learnkey.com/financiallitmonth