How can a credit card help?

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It is important to have a credit history. If you don’t have a credit history, you can begin building one by using a credit card – as long as you use the credit card wisely! When you apply for a credit card, the card issuer will check your credit history with one or more of the credit-reporting agencies, to find out whether or not you are likely to pay back the money you borrow with your credit card. If your credit card application has been approved and you start using your card, the issuer reports any activity on the card to the credit-reporting agencies. For example, the issuer will tell the credit-reporting agencies what your outstanding balance is and whether or not you are making the required monthly payments on time. This helps you build a credit history. If you are having difficulty obtaining a credit card because you have no credit history, you are new to the country, you have recently filed for bankruptcy or you have had credit problems in the past, a “secured credit card” migh