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iwantanewphone

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Will paying off a phone help my credit score go up?
I am just recently 18 and have no credit whatsoever. I am in desperate need of a new phone and am looking to go through Best Buy to pay off a new phone monthly. The phone is 30$ a month, well within my budget, and I have savings in case I cannot pay it on time. I am interested in raising my credit for the future when I get an apartment but I don't want an actual credit card until I am older. Will this help it improve?

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Top Contributor
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I don't believe an account like this is reported to the credit bureaus. Understand that many typical bills do not count on your credit reports. Now if you are doing this with a "best buy" credit card, check to see if they report to credit bureaus, but with most phone financing, it is simply a part of a phone plan and won't be reported to the credit bureaus (unless of course, you don't pay, then they will report a collections account). A Secured credit card that is reported to all three credit bureaus is the best way to start building credit. Capital One is a lender many people start with. For a great future with credit, start reading everything you can now regarding credit.

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