Why You Do Not Need to Have a Credit Card to Build Credit
The Modern Credit Myth There’s a deeply rooted belief in modern personal finance that says: “ You need a credit card to build credit. ” This belief is not only outdated — it’s strategically limiting for individuals who are trying to build or rebuild their credit with intention and purpose. Credit cards, when used correctly, can indeed accelerate your credit growth. But when used prematurely, they often become a burden, introducing high utilization rates, hard inquiries, and potential delinquencies that damage a person’s credit profile before it even matures. The truth is that you do not need a credit card to build a strong credit foundation. What you need is the right credit-building strategy — one that positions you to qualify for the card you want, on your terms, with maximum leverage and minimum risk. In this article, we will explore how to do just that — specifically, how to build your credit profile without using a credit card by leveraging the power of credit builder loans (CBLs)...