Yes, but only give it to them if they are responsible or you will have money issues. :)
Having the cards does not. Having large debts on them does.
{| |- | Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. |}
Credit cards aid to build credit history in the same manner that any debt, whether it is from purchasing a car or by just paying rent. Be responsible with credit cards. You should not overspend.
== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==
That means that you are responsible enough to have a credit card. And you can buy things!!
Having the cards does not. Having large debts on them does.
{| |- | Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. |}
Credit cards aid to build credit history in the same manner that any debt, whether it is from purchasing a car or by just paying rent. Be responsible with credit cards. You should not overspend.
== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==
A responsible use of credit is paying off your credit cards each month. Another example of using credit responsibly is using it when you need it only.
That means that you are responsible enough to have a credit card. And you can buy things!!
Its best to have only a few credit cards to no credit cards. Say you have 4 credit cards with a 500 limit on each and a zero balance, There is the potential for you to charge 2000.00 whenever you want. When you have so much available credit, Lenders are scared to loan to you, Therefore hurting your credit. Best bet: If you dnt use 'em, Lose 'em.
YES, THIS IS TRUE! IF YOU HAVE NEVER ESTABLISHED CREDIT HISTORY AND YOU ARE IN NEED OF A LOAN YOUR BEST BET IS TO BECOME A CO-SIGNER ON SOMEONE ELSE'S CREDIT CARDS TO ESTABLISH CREDIT HISTORY.
You charge to much credit cards.
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
Having bad credit a person limits themselves greatly on what credit cards they can have. The only card offered to people with bad credit is the Premier Bank MasterCard.
in shops when having no cash in your pocket so you use your credit card