Credit and Housing: How to Build Credit While Living with Parents

If you’re thinking about living at home with your parents to save some money, you’re not alone. In fact, nearly one-third of all millennials are still living at home and rely on their parents for financial assistance.

But remember, if you want to accomplish certain life goals, like renting your own place and buying or leasing a car, you will need to build and improve your credit score while living with your parents.

Here are a few simple steps to help you get there:

• Become an authorized use on your parents’ credit card, which will help build your score by piggybacking on your parents good credit
• Open your own credit card and use it responsibly
• Pay your bills on time each month

And when you do eventually rent your own place, solutions like RentReporters can help improve your credit score by reporting you on time rent payments to TransUnion.

For more information on RentReporters, visit here.