Some people may feel that credit cards are a pit, waiting to drag down an unsuspecting credit card holder. While that’s true to a point, credit cards can also be an important part of being a responsible adult. And having a credit card can offer a opportunity for building credit ratings that will open doors for you on major purchases, including cars and even real estate.

Many people are offered credit cards long before they join the workforce. College and even high school students are routinely offered credit cards and some quickly fall into the routine of charging more than they can repay. Those who use credit cards responsibly, paying close attention to their credit card debt and making payments on time are building credit that will be a great asset.

Remember that your use of credit cards is reported to one of three major reporting companies. More importantly, your payment history is also reported to and compiled as part of your credit report. That report is typically the most important aspect of your future credit and loan applications. That means that responsible use of a credit card and prompt payment of amounts due will help your chances of being approved for future credit and loans.

So the next time that you start to pull out your wallet to pay for a small purchase, consider using your credit card instead. If you consistently use credit cards and pay off your credit card debt, you’ll soon find that you are building an excellent credit rating.