Hundreds of millions of ‘Buy Now, Pay Later’ loans will soon affect credit scores for millions of Americans.

A low credit score can hurt your ability to take out a loan, secure a good interest rate, or increase a credit card spending limit.

Managing credit cards wisely can drive up your credit score and save you a lot of money on loans and lines of credit. Credit Cards Show Good ManagementAnyone who hopes to qualify for a loan has to have a credit history, and that includes any money you've ever borrowed. The first step to managing your credit score is knowing what's in your credit report. Fifteen percent of the score looks at how long your credit history reaches back and 10 percent figures in how many inquiries you've had on your credit history. Open Accounts With DiscretionKrejci said store credit cards are a good way to build a credit history, but don't go overboard.