By Barbara O’NeillWhat can Personal Finance Management Staff tell a service member who asks, “What is the fastest way to build good credit?”The most important way to build good credit is to consistently pay bills on time. One late payment can decrease a person’s score by 40 points. Also, advise service members to have different kinds of credit: for example,unsecured credit such as revolving credit (e.g., a major credit card) or a student loan, and secured credit such as an installment loan (car loan or mortgage). They should also keep their balances low (less than half of the total credit line), pay off debt rather than move it between cards, limit the number of credit accounts, and build savings. For information about credit reports and scores, click here.Browse more military personal finance webinars and articles by experts.Follow Dr. O’Neill on Twitter!This post was published on the Military Families Learning Network Blog on November 11, 2013.