With well over 1,000 credit cards on the market, advertisements bombarding us online, on TV and through the mail, and mountains of fine print to confuse us, it can be understandably difficult to find the right credit card. It’s a worthwhile endeavor, however, given how financially beneficial a complementary credit card can be and how it can help you avoid some of the biggest mistakes that credit card users make.
Credit card use is a responsibility, after all. Credit cards report information to the major credit bureaus on a monthly basis. If this information is positive, reflecting responsible use or even zero balance, your credit standing will gradually rise, helping you qualify for attractive loan and credit card rates in the future as well as making it easier to rent an apartment, lease a new car, or be eligible for certain jobs. If, however, the information reflects misuse – such as missed payments or high credit utilization – it could lead to expensive debt, credit score damage and assorted other difficulties across your life.