Having a credit score is an important factor in a financially stable life. Even if you are young, knowing the why’s and how’s of credit scores can set you up one a good path. Eric Nelson is a principal broker and finance expert who specializes in insurance products and financial services. He is also an active NAACP member and proud social justice advocate. 

Having a good credit score can help you in many areas of life. It can help you: 

  • Apply for loans.
  • Reduce your interest rates on those loans.
  • Apply for an apartment. Landlords will look at them, and if your credit score is low, they may reject your application.
  • Get better deals on insurance and cell phone plans.

The most important thing you can do to improve your credit score is pay your bills on time. If you have a credit card, don’t charge more than a third of whatever the limit is on that card. Funnel a few regular purchases through the credit card and set up auto pay so you won’t forget to pay the balance.