Author: Daisy Moraa

The previous article covered the basics of credit cards. This piece tackles credit scores: what they are and how to build a stronger one. What a Credit Score Actually Measures A credit score, sometimes called a credit rating, comes from the financial information stored in your credit report. Every country maintains a body or institution responsible for holding these individual credit files. Your credit report draws from your financial activity with banks and lending facilities. Whenever you apply for a credit card, lenders pull this report to assess your creditworthiness. The data tells them three things: whether to approve your…

Credit card usage across Africa continues to climb, yet confusion between credit cards and debit cards persists among consumers. Banks issue both, the designs often look identical, and both work at ATMs, in malls, and for online purchases. So where does the real difference lie? How Each Card Draws Money A debit card pulls directly from funds already sitting in your bank account. Money in the account means you can spend, withdraw cash, and settle bills through the card. No balance means no transaction goes through. A credit card operates differently. It lets you spend against a line of credit…