"Never share your PIN number with anyone"
It helps you build your credit rating
Providing you use your credit card responsibly you can build up a healthy credit rating. This is a score based on your history of borrowing and repaying money, and is one of the tools lenders use to decide whether or not to lend to you.
If your credit history shows evidence of missed payments and defaults, you may find your score is low and as a result you could struggle to get the deals you want when you borrow. However, if you have a credit card or other form of borrowing that you use responsibly and pay on time every month, you can show lenders that you can be trusted to borrow.
If your current credit rating is lower than you’d like and you’ve struggled with borrowing in the past or if you have no credit history to speak of, don’t be too disheartened. There are credit-builder credit cards, such as the Ocean Credit card, available that you might be eligible for.
These are usually no-thrills cards with a higher interest rate and lower maximum allowance than many other cards, but you can use them to borrow money and, providing you stay on top of your repayments, you may find they help you improve your score. However, not doing so could harm your credit rating.