Does having a credit card or using another persons credit card improve my credit rating?
A. One of the best things you can have on a credit report is a bank credit card– such as a Visa, MasterCard or Discover card that has been paid on time over a specified period in the past. In a credit scoring system, a good bank card reference usually carries more weight than an American Express card or a department store card. If you are an authorized user (someone who has permission to use a credit card, but is not legally liable for the bills) on someone else’s account, the payment history will likely be reported in your credit file, but you won t be able to rely on it to help you build your own credit rating. Usually, it will neither help you nor hurt you when you apply for a loan.
