What Credit Score Do I Need to Get a Credit Card?

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A credit card can help you manage your cash flows and can allow you to pay for expenses without having to put up the cash for it immediately. When applying for a credit card, one of the most important components is your credit score – a numerical value between 300 and 900 that represents a borrower’s creditworthiness. This value is calculated based on the individual’s credit history which includes considerations for the number of open accounts, total debt, and payment history. From the lender’s perspective, a borrower’s credit score is the likelihood that the borrower will be able to repay their debt on time.

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Original Article Source Credits:   Loans Canada , https://loanscanada.ca/

Article Written By:  PRIYANKA CORREIA

Original Article Posted on:  NA

Link to Original Article:  https://loanscanada.ca/credit/what-credit-score-do-i-need-to-get-a-credit-card/