Understanding credit and how to use it goes far beyond receiving a credit card, using it; then paying it back on the due date.
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What You Should Know
The truth is, possessing a good credit score is priceless, simply because most of the real significant financial moves that have to be made by anyone revolves around having a good credit profile. All or most of your financial goals and opportunities will be made readily available by simply possessing this.
In some cases, credit is more valuable than cash. With good credit, you don't even need cash in most situations. The lenders will simply view your profile and conclude that you are more than capable of handling the situation without you presenting one dime. On the flip side, in some situations if you present cash to a lender( down payment), you will still need to produce a favorable credit score to prove that you will not default on future obligations. where as having a good credit score will demonstrate that from the outset.