Texas Tech University

A common misconception among young people is that all bills appear on credit reports and feed into credit scores, says Angela Mazzolini, Accredited Financial Counselor® and program director for Red to Black, a student financial education program at Texas Tech University.

"They might think their phone bill or maybe their rent are going to show up on their credit reports," Mazzolini says. "They think, 'I'm paying my bills on time, so that's going to give me good credit.' "

Read the rest of Angela's advice.