HOW IMPORTANT IS A CREDIT CARD
Getting your first credit card is a financial rite of passage. That little piece of plastic is more than just a shopping convenience—used wisely, it’s a financial building block that helps you establish a credit profile and develop good money habits that can strengthen your financial future.
Be aware that making mistakes with a first card can hurt your credit and result in less financial flexibility. Before you apply for a credit card, research your options! Here’s what you need to know to make the most of your first credit card. Enlisting credit repair companies like community credit repair will help you understand more.
How credit cards affect your overall financial profile. Having a credit card—and how you use it—affects your credit rating and credit score. This credit history can have a big impact on your future financial choices, because landlords, lenders, car dealers and even utility companies will use it to decide whether they want to offer their products or services to you.
Paying your credit card balance each month and staying under your credit limit helps build a solid credit history that makes you a better potential customer to other financial service providers. Making late payments or running up too much debt will hurt your credit profile, making it harder to use other financial services in the future. Enlisting credit repair companies like community credit repair will help you understand more.