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When your credit score is down, it takes great effort to rebuild it. You have to take care to pay down your debts and get your finances in order. You may also have to change some of your spending habits to have the greatest impact. Consider these five spending habits that will retard your credit rebuilding efforts.

1. Paying Cash

Arguably, it is responsible behavior to pay your bills with cash but using cash does not give lenders any way to assess your creditworthiness. There is no payback to monitor because there is no lending involved.

As Millennial Money Expert Stefanie O’Connell notes: “If you are not borrowing money and you have no history of borrowing money, then you have no credit. That means not being able to be approved for the mortgage or the auto loan or the personal loan… whatever it is in the future.”

2. Using Debit Cards or Prepaid Cards

The same principle applies here as it does with…

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