Build Your Credit Score From Nothing – Part 2

How to Build Your Credit Score/History From Nothing – Part 2
“Pay bills for your apartment or house in your name”

In Part 1 of this series, I walked everyone through how they can give their high-school age child a financial headstart in life by getting them their own student credit card at an early age and begin accumulating a credit history. See the link below to that post if you missed it.

Part 1 – Build Your Credit Score From Nothing

In Part 2, I’ll discuss another very important and easy way to build your credit history – simply paying your for you housing in your name. It seems simple, but many things can get in the way of you doing this correctly.

So, let’s take me as an example because I am someone who missed this opportunity while I was in college.

For the first year of college, I lived in the dorms on campus. Because everything is paid directly to the univerisity and included in one lump sum, there were no utility, phone, or internet bills in my name to build credit history. During the 2nd – 4th years of college, I lived in a house that one of my friend’s family owned. To make things easier, I paid his family a lump payment each month that included utilities. You guessed it! No bills were in my name, and therefore, no credit history.

So, as sad as it is, I made it through college without ever paying one bill in my name. Amazing! This exact same situation can also happen to people who have their own apartment if the bills are placed in their parents name and mailed to an address half way across the state so that the college student never even sees it!

What’s the moral of the story here?

Rent an apartment or house in college, get the bills placed in your name (not your roomates, not your parents, YOURS!), and accumulate a generous amount of credit history before you are even out in to the real world!

Keep an eye out for Part 3 of this series – coming soon. Click on the link below to subscribe to my blog and have it sent to you when it is posted.

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Keep on learning!


Go To Build Your Credit Score From Nothing – Part 3 – “Take Out a Small Personal Loan”