How to Improve Credit Scores

Tips to Teach Young Adults Credit Card Use

Here is some good advice on how to improve credit scores among young people.

Avoid credit cards debt.

First of all, have you noticed that credit card companies are relentlessly marketing to young adults. They deluge them  pre approved credit cards, enticing young people to start using them and amassing debt. With debt comes interest payments. Credit cards make a lot of money through collecting interest from their users. 

Before acquiring a credit card a young person should have a lesson about money, budgets, how interest payments  work.

Automatic payment options allow the credit card customer to opt into automatic withdrawals from their bank accounts with the option to automatically debit the full or minimum payment on the due date. It's a free service and offers protection from inadvertently missing a payment date. 

Making a payment one day late is too late. It counts in the credit score universe as "30 days late" 

Improve Your Credit Score By Never Missing a Credit Card Payment

The automatic minimum payment is basically "I forgot" insurance and it is such a small and easy step to take while the benefits of protecting your credit score are huge. If you can talk your son or daughter to make this easy step, it will make a large difference to their future credit. 

Today so many young people are in credit card debt. Once you're in debt it gets harder and harder to climb out.