We’ve been talking about the importance of establishing a credit history, but equally as important is understanding how credit bureaus determine your credit score.
About 35% of your credit score is calculated based on whether you’ve paid your bills on time, but there’s much more that goes into it.
Watch the video above to learn more.
More resources:
- Investopedia: Top 3 credit bureaus
- U.S. News: How to build credit fast
- LetsMakeAPlan.org: Building credit 101
- ConsumerReports.org: Best way to help your kid build credit
More: Money Monday section