How Your Credit Card Activities Impact Your Credit Score
Credit card use has increased since its introduction as a payment method. It has made online purchases and paying for household expenses faster and more convenient. Unsurprisingly, there are 2.8 billion credit cards in use globally. Using this financial tool comes with several advantages. However, every action involving your credit card can either help or damage your credit score, from the application to your usage habits and payment history. Even the choice not to use one can significantly influence your credit score. Understanding the effects of opening, closing, and using credit cards can help you make more informed decisions about whether to apply for a new card or how to manage existing ones. But first, let’s explore what makes up … Read more