Question

Carson is a college freshman and wants to build his credit score so that, when he graduates at age 22, it's easier for him to rent an apartment and take out a car loan. Which strategy would likely result in the HIGHEST credit score

Answer 1

Answer: a. Have his mom co-sign for a credit card this year, and then Carson pays all of bills on-time and in full every month  

Explanation:

Credit scores show how trustworthy a person is when it comes to paying back their debt and so there is no better way to build this score than to incur some debt and pay it back on time.

This is why credit cards are the most convenient way to increase credit scores. Seeing as Carson most probably has no credit history, it would be best if he co-signed on a credit card with his mom and then paid every bill o time and in full.

This would increase his credit score enough by the time he graduates.