Building your credit history at an early age

Paying for a credit card early in life is one of the best advantages that enable you to build a good credit history. A good credit record is built with timely payments and wise utilization. It is very critical if you are to approach future loans like a home loan or personal loan. Early initiation gives you that added advantage to build a good credit history.

Managing short-term cash flow

It is possible to use a credit card to finance short-term spending, especially if you are transitioning to living independently. It allows you to charge emergency bills or sudden expenses and pay it off over the next billing period. This is highly beneficial during your working life when setting budgets for rent, food, and public transportation fees.

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