Credit card usage and mobile wallets are becoming dominant in financial transactions, overshadowing cash. Maintaining a high credit score is crucial when utilizing credit cards for rewards and benefits. Regular monitoring of credit reports for errors is essential. Late payments can significantly impact credit scores, which generally range from 300 to 850. Currently, credit cards offer attractive rewards including high percentages of cash back and minimal fees, prompting urgency in signing up for such offers.
It's hard to believe, but today there are credit cards offering up to 6% cash back, $200 statement credits, $0 annual fees, travel rewards, and more.
For the most part, credit scores work based on a ranked scale from 300 to 850, with 300 being the lowest and 850 being the highest.
Missing Payments is one of the most common instances that can affect your credit score, as payment history makes up as much as 35% of your score.
It's essential to regularly monitor your credit report and review it for any errors or unfamiliar charges.
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