"How do I build my credit?"
This is one of the most common questions I am asked. In this series, I will be sharing various ways that one can build credit while still winning with money.
Part Three – Pay All Bills On Time – Consider Automatic Bill-Pay
If you do not pay your bills on time, the late payments will be reported to the credit reporting agencies.
This means that you need to pay your utility, cell phone, and other monthly bills on time. This is why I am such a huge fan of a written monthly spending plan (budget). When you have a plan, the chances of paying a bill late are greatly reduced.
If you live an exceptionally busy life or are notorious for procrastination, consider automating bill payments. This will ensure that bills are paid on time, and can greatly reduce stress and the potential for your credit score to be dinged.