Building a credit score

Building a credit score is like building a reputation: it’s hard for people to trust you if they have no proof of how you handle your word (or your money).

Here is why getting a credit card is one of the most effective ways to build that reputation.

It Proves You Can Be Trusted. Without a credit history, you are "credit invisible." Lenders don't know if you’re a safe bet or a risk. A credit card provides a monthly "report card" to credit bureaus.

• Consistency: Every on-time payment shows you can manage recurring debt.

• Longevity: The longer you keep a card open, the more "mature" and stable your financial profile looks.