Credit card
Cards & borrowingA revolving credit account that lets you borrow money up to a set limit.
Overview
Credit cards are reported to credit agencies and can help build history if used responsibly.
Interest is charged if you do not pay the full balance by the due date.
Why it matters
- It affects your utilisation and payment history.
- It can build credit when paid on time.
- High balances can reduce your score.
FAQs
Does using a credit card help my score?
Yes, if you pay on time and keep balances low.
Is it bad to have multiple credit cards?
Not necessarily. It depends on how you manage them.
Related terms
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