Why building credit is so important, from mortgage applications to future jobs

The Deserve Digital First Card™ is no longer open for new applicants. It is crucial to maintain a good credit score to access favorable mortgage rates, credit card bonuses, and even job opportunities. Building credit early and consistently is vital as it impacts major life decisions. Lenders consider credit history when approving loans or credit cards, favoring those with good credit scores. Good credit can lead to lower interest rates and open doors to better financial products and job prospects. Responsible credit behavior, like paying bills on time and managing credit card balances, can boost credit scores. Actions such as becoming an authorized user on someone else's account or participating in Experian Boost can also help build credit. Timely bill payments, low credit utilization, and using credit responsibly are key factors in improving credit scores. Additionally, services like Rental Kharma and Rent Reporters can help renters report positive payment history to credit bureaus. Initiatives like automating bill payments and utilizing tools like Experian Boost can aid in building credit efficiently. Starting early in building credit can lead to long-term financial benefits.