A: You can build credit in other ways than using credit cards. Simply having utility bills or even a cellphone contract in your name, that you pay on time every month, will establish credit.

Credit cards are not a necessity of life. Most people acquire credit cards to be able to spend money that they don’t have, on things like furniture, food, or even clothing. Why not teach yourself and your children to save up for items that you will need later? Because, chances are, you don’t need it today. So, refrain from opening store credit cards, and if you do possess a major credit card, attempt to keep it in your wallet for as long as possible.