A good credit score opens doors to better interest rates on loans, easier approval for rentals, and even potential employment opportunities.
However, building credit can be challenging, especially if you have a less-than-stellar credit history.
Fortunately, using credit cards strategically can help you rebuild your credit even if you have bad credit.
The first step in rebuilding your credit is to know your current credit score.
You can obtain a free credit report from each of the major credit bureaus (Equifax, Experian, and TransUnion) once a year at AnnualCreditReport.com.
Understanding your credit score will give you a starting point and help you track your progress.
Make sure to choose a secured card with low fees and report your payments to the credit bureaus to reap the credit-building benefits.