![]() ![]() Colleen McCreary, Chief People Officer and financial advocate at Credit Karma, explains, "A credit score is a three-digit number based on information found within your credit reports, including payment history, outstanding debt and length of credit history." A good credit score will help you up your chances of getting approved for an apartment or a lower mortgage rate in the future.Ĭredit cards can also help you in the more immediate term by allowing you to earn perks like cash back on your purchases (in other words, earning money for spending money) or airline miles so you can afford that spring break trip. ![]() But credit cards are actually an incredible tool to help out your future self - they allow you to build up a credit score, which you'll need if you want to rent an apartment, buy a home, or lease a car. You might have heard horror stories about racking up credit card debt, be intimidated by the process of picking out a credit card, or just not know where to start. What comes to mind when you think of credit cards? Do you think of slow-motion makeover montages, armfuls of designer shopping bags, visions of dollar signs, and “Your Order Has Shipped” emails? Not so fast - getting your first credit card is a big deal (and a milestone of adulthood!) but it comes with a lot of responsibility, too.
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September 2023
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