Everyone Should Have A Credit Card: 10 Reasons Why

Credit cards are a fantastic resource to help you handle your finances better.  Here are ten reasons why everyone should have a credit card.

Reason #1: Easy Way to Build Credit

Credit cards are a quick and easy way to establish or build credit. Credit scores affect your ability to get car loans, personal loans, and other credit products. Having a clear credit report is essential.

Reason #2: A Generous Sign Up Bonus

Many cards will give you cashback as you spend money. Spending $1000 within 90 days and getting $100 back is a standard account opening bonus.

Reason #3: Pay Zero Interest For a Period of Time

One perk of using a credit card is that most cards offer 0% interest rates on purchases for extended periods. You can use this window to make large purchases without worrying about paying any interest until months later. I have done this numerous times to spread out paying for purchases over time.

Reason #4: They Come With Purchase Protection

The fine print with credit cards can be to your advantage (sometimes). There are consumer protections on a credit card that you don’t get with a debit card or cash transactions.

Reason #5: Fraud Protection

If your card is ever lost or stolen, you will not be held responsible for fraudulent charges. With cybersecurity being such a concern, this is beneficial. Report any theft or loss of your credit card as soon as possible. Fraudulent transactions are a drag.

Reason #6: Cash Back Rewards

Only choose a card that will improve your credit rating, has no annual fee, and gives you the ability to earn rewards. Use the credit card on everyday purchases and earn money while paying your expected expenses.

Swipe up to Read More on Why Everyone Should Have a Credit Card