Credit cards are often associated with overleveraging and debt. However, when used wisely, they can be extremely valuable. One little plastic has the potential to enhance every aspect of your financial life. Today, a healthy fiscal rank is even more important while the card industry grows stronger than it has ever been. With the emergence of the Credit Card Act of 2009, consumers have gained more power as issuers are compelled to have a “what you see is what you get” card system.
No matter what type of card you may have in your wallet, there is no scarcity of reasons why you should get a credit card. Among them are the following:
1. Building Credit – Many consumers turn to these convenient plastics to establish or rebuild their credit rating. As you may already know, credit history is tremendously important nowadays. Using a credit card is one of the fastest ways to build credit. All activities will be sent to the three major credit bureaus to help you achieve a higher score.
2. Get Cash Back – Card holders who pay off their bills in full on or before the due date can get cash back rewards. Most rewards cards also let you get a discount for every purchase you make. These discounts can be claimed at the end of the billing cycle.
3. Other Rewards – Aside from cash back, you can also earn points and miles. You can even boost your elite status. You can use your points to redeem plane tickets, complimentary meals, free hotel stays, gift items, and many more.
4. Handiness – Carrying a wallet full of cash can be a hassle most of the time. Now, you do not have to bring hundreds or even thousands of dollars with you for large purchases. You can use just one card instead. It is a lot easier to bring and conceal a card than cash even when paying for expensive acquisitions.
5. Monitor Expenses – With a credit card, you get to view how much you have spent for the whole month. All items that you have bought, along with their values, are laid out in your credit statement. This is quite expedient, especially for those who need to keep tabs of their monthly budget.
6. Protection – Most cards do not charge you against fraudulent purchases. This is not possible when you pay with cash or even with your debit card. When your credit card gets stolen and you have reported the instance to your issuer immediately, you will no longer be liable for the unauthorized charges made.
7. Buy Now, Pay Later – This is one of the ultimate reasons why people prefer these useful cards over cash. There will always come a time when you may need extra days to pay off something in full. This is possible with your plastic and you don’t even have to pay for the interest if you get a hold of a 0% APR card.
8. More Perks – You can find cards that provide VIP treatment to the cardholders. What’s more, you can even watch exclusive game shows, concerts, and other events. Concierge services and priority boarding are some of the special perks of having a gold or platinum card.
Credit cards can be a good source of convenience, especially when used wisely. They can be used for all sorts of purchases, regardless of amount. If you love convenience and are not comfortable bringing cash everywhere you go, then getting a credit card would be a wise decision.
Take a look at some credit cards below: