Millennial Money: Now is the time to build your credit

By COLIN BERESFORD of NerdWallet

Building credit from scratch when you’re young can feel overwhelming; it’s no wonder that nearly 40% of Americans between the ages of 20 and 24 have no credit history or too insufficient of a credit history to have a score, according to the Consumer Finance and Protection Bureau. But many people may have low or sparse credit scores because credit bureaus aren’t aware of the steady payments they’ve made toward rent or bills –– a few of the ways to start building credit. There are several options for building credit when you’re young, and doing so before you need it can set you up for success later.