Question

When it comes time to secure a loan for a major purchase such as a car or a house, it's important to have a good credit history. Having a credit card and using it wisely by making your payments on time will help you grow your credit. True or False

Answer 1

True. Having a credit card and using it responsibly, such as making payments on time and keeping your balances low, can positively impact your credit history. This responsible credit behavior helps you build a good credit score, which is important when securing loans for major purchases like a car or a house.