Elite credit cardholders have a higher level of income, enjoy a higher credit rating, and a higher spending. This is the reason why only a small percentage of people carry elite credit cards. Most of the times, the credit card company acquires such customers through rewards cards, which indicates the high-spending behavior of the card holder.

Many of us end up using the same credit card for a long time and many people do not change their favorite card for years. Our financial requirements keep changing over time. If you have been using the same credit card you had in college, you probably have the wrong card with you.

Your credit score an indication of the health of your finances. Banks and credit agencies also keep a check on your credit score to ascertain whether you are judiciously paying your dues. Therefore, it is important for you to keep a track of your credit, especially when you want to apply for loans and mortgages.

With competition increasing greatly in the market, more and more banks are offering lucrative offers to attract a large number of customers to use their credit cards. Although these credit cards offer a lot of rewards, not many customers are aware whether these rewards are taxable or not. The good news and the bad news here is that the answer is both yes and no.

Your credit report is used by lenders to determine your credit history and reliability. The information on the report helps lenders decide whether they can to lend you funds or not. A credit report includes information about your debt, the status of outstanding balance from certain lenders, and information about credit inquiries.

A credit card can be a useful or lead you to debt; this depends on how you use it. If used responsibly, your credit card can make it simpler for you to manage your monthly flow of cash and check your expenses. If you are an adult with a steady job, you will not have any problems getting a credit card.