What are other ways to increase my credit score without getting a credit card?

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Posted by Lauren Choban (MONEY FORUMS: 4, Answers: 0)
Asked on March 3, 2016 10:49 am
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Pay all your bills on time, every time!

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Posted by Melanie Lockert (MONEY FORUMS: 0, Answers: 66)
Answered: March 4, 2016 6:02 pm
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If you’ve got student loans, paying those every month can result in a fairly high credit score, fairly quickly.

Credit scores indicate your credit-worthiness to a bank, and essentially measure your interaction with debt products. The reason credit cards are a good first debt product is because you can use it without paying interest. Any other loan would do just as well, but it’s not as cheap.

In the meantime, if you have any debt, pay it on time, avoid late payments on rent, phone bills, etc. and you’ll manage to maintain a decent credit score. Honestly, it only takes 6-12 months to go from a zero credit score to a 650+ if you do everything right the first time (and avoid negative information).

http://www.magnifymoney.com/guides/credit-score-guide/#Guide5

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Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: March 3, 2016 7:51 pm
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