I'm 21 and if I'm under my parents car insurance but the payments come in my name do I still build up credit?

Question

I am the secondary driver on the car and my dad is the primary. But the bill comes in my name and I make the payments. Can I still build up some credit this way or does the car insurance have to be in my name as well?

Answer 1

Try using http://My-InsuranceSearch.com to compare car insurance rates for all the major providers in your area.

Answer 2

Paying bills on time doesn't affect your credit rating. Sorry.

If you want to improve your credit rating, try taking out a store credit card, making a few purchases, and paying off the balance in full each month. That will help more than anything else you can do right now.

Answer 3

Only if you have a credit cards, Loans or mortages to bulid up your credit.

Answer 4

Car insurance isn't usually reported to the credit bureau.  Usually, the only companies who report to the credit bureau are banks/credit unions/mortgage companies and companies who have issued credit cards to you.  There may be others but those are the major ones.  Is it possible for your Dad to co-sign on a low limit credit card for you, in your name?  That would show on your credit.  Just make payments every month to show a payment history.

Answer 5

You will not build credit for car insurance payments.  Sorry.

Answer 6

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