Credit Scores, Credit Cards: How Consumer Finan... -

: Payment history (35%) and credit utilization (30%) are the heavy hitters.

: Benefits like cashback only provide value if the balance is paid in full monthly.

📍 : Success in consumer finance requires viewing credit cards as a scoring tool rather than a source of extra income.

: You need credit history to get a good score, but need a good score to get credit. The Role of Credit Cards

: These two factors influence your ability to rent apartments, buy cars, and secure mortgages.

: High balances relative to limits can "tank" a score quickly.

: Applying for a card causes a temporary, minor dip in your score.