Ways to Get a Credit Score Without a Credit Card

Credit bureaus such as TransUnion, Equifax and Experian collect consumer payment information from creditors and assign a credit score that gauges creditworthiness. Many types of credit come into play, and those who choose not to deal with credit cards have a range of alternatives to establish a solid credit score.

Mortgage and Home Equity Loans

A home is often the most valuable asset held by consumers. Banks and mortgage finance companies report payment histories on home loans monthly, so an individual or couple who choose to avoid credit cards can build a high score by making the mortgage payment on time each month. They may also take out second mortgages or open credit lines based on the home's equity, the payments on which also are reported.

Vehicle Loans

The most common type of vehicle loan is for a car, but banks and finance companies offer loans for ATVs, boats, RVs and snowmobiles. Those payments also are reported. Given that they are secured loans in which creditors can repossess the vehicles for nonpayment, owners may be more inclined to pay them before unsecured creditors, but those histories are still a reliable indicator of financial resources and responsibility.

Bank Loans

Credit cards are not the only source of bank credit. Among the broad array of products they offer are credit lines, secured and unsecured loans, business financing and joint accounts. Each of these represents a prime way to establish a credit score. From the reporting standpoint, they serve much the same purpose as credit cards and are useful barometers of creditworthiness.

Utilities

Because utilities such as oil heat and electricity are billed after consumption, their suppliers are considered creditors per federal guidelines and can report their customers' monthly payment histories to the credit bureaus. A critical factor in building a strong overall credit score is to make these payments on time. Although some utilities only report past-due accounts, their absence on a credit report is nonetheless revealing and represents a positive factor.