Question

List three strategies you could apply as you turn 18 to build a good credit history.

Answer 1

To build a good credit history as you turn 18, it is important to pay bills on time, keep credit utilization low, and consider applying for a secured credit card.

Step-by-step explanation:

Building a good credit history is an important step as you turn 18. Here are three strategies you can apply:

1. Pay your bills on time: This shows lenders that you are responsible and reliable. Set up automatic payments or reminders to ensure you don't miss any payments.
2. Keep your credit utilization low: Try not to use more than 30% of your available credit. Using too much credit can signal financial instability.
3. Apply for a secured credit card: This type of credit card requires a cash deposit as collateral, which helps build credit history.