Is getting a credit card a good way to build credit?
Hi Mason! Yes, a credit card is a good way to build credit, if of course, you’re responsible with it. If you make sure to pay your bill on time every month, you’ll begin to build a solid credit history and in turn, your credit score will start to rise. Keep in mind, however, that credit can work both ways – If you miss even one payment, you can seriously damage your credit score. I think your approach is a great one to get started. Get a feel for having a credit card by using it for small purchases (gas is a good one) and pay your balance in full and on time each month. Each time you pay your bill on time, an “Okay” status will be reported by your credit card company to the credit bureaus. Think of each “Okay” as another step toward good credit. A good credit score absolutely affects your ability to get financing and the interest rate you’ll qualify for. The better your credit, the better your interest rate and terms. Think of good credit like an all-access pass to huge savings over yo
