How to Build Your Credit Rating Without Getting a Credit Card
Studies project that one out of every three millennials will never own a home. The projections indicate that this population segment of millennials will still be renting apartments or housing when they retire. Housing prices are soaring, which means that the sizes of a potential deposit are soaring as well, and the cost to rent a home or apartment is spiralling out of control. Millennials, the generation typically defined as the people born between the 1980s and the late 1990s, don’t have the economic means to enter the real estate market. Even more troubling, an alarming number of millennials have a poor credit score — or no credit rating at all. This can add yet another barrier to potential homeowners. Some millennials have poor credit scores even though they are consistently making monthly rent payments. An Explanation of Credit Ratings A credit rating, in its simplest definition, is a number…
