BIRMINGHAM, AL (WBRC) - We’re on your side with some advice for millennial struggling to boost their credit scores.
A new study from Experian shows Alabama millennial have the second lowest average credit scores in the nation. That’s people between the ages of 23 and 38.
Experts say it’s important to check your credit score online often because it will show you what’s specifically driving your score down. Then, you should pay down existing debts and pay them on time.
Budgeting and living within your means are also key.
“There is a way that you can immediately affect your credit score in a positive way,” said Marshall Clay with The Welch Group. “There’s a new program called Experian Boost. Up until recently, the payment of utility bills and cellphone bills did not positively affect your credit score. By using or taking advantage of this Experian Boost program, it allows you to opt in and allow Experian to track your payments to cell phone and utility companies, and that can give you an immediate boost to your credit score.”
For a look at the entire study, click here.