selecting a credit card
One Major Credit Card Advantage
When used and managed wisely, credit cards offer several benefits. One of the biggest advantages is that they allow us to build a credit history. Consumers who consistently make credit card payments on time develop a good credit history, which ultimately leads to a higher credit score. Why is this important?
Creditors check your credit score before approving new credit.
A good credit score is necessary to buy or rent a home.
Your credit score can affect your ability to get certain jobs or qualify for lower premiums on home and car insurance.
ALL of these statements are true. Your credit payment history accounts for 35% of your credit score and is the single most important scoring factor. A good credit score also makes it easier to qualify for credit with a better interest rate.