You might have heard a lot of financial experts telling you to just cancel your credit card if you want to stay away from debts. This may be true considering the number of people who have drowned in debts due to their credit card problems. It does not mean though that it will be applicable to all. There are people who remain disciplined even if they have credit cards. If you are one of them, then you might want to consider getting a credit card or continuing the one that you currently have.
Win bonus points
Whether you pay the items you have bought in cash or using credit cards, the amount is the same. As long as you will repay the amount on time, then you won’t have to suffer from the interest rates. The advantage of using credit cards though is you can earn bonus points. These points may be converted into actual items later on. There may also be some instances in which malls and department stores partner with certain banks issuing credit cards so those who are using the cards may get discounts on selected items.
Track all your expenses
The good thing about having a credit card is that you are able to track the amount that you have spent. This can be easily checked using the summary on your credit card statement. It may now be checked online. This makes you more disciplined. It tells you to stop whenever you have already spent a lot. You can also easily compute if you think you have overspent on certain items. By then, you can plan your finances well in the future.
Build your credit scores
One way to increase your credit scores is by having a credit card. You need to show proofs that you were able to repay what you have borrowed on time. If you have a consistent record, then this could boost your credit ratings. As a result, it would be easier for you to get bank loans next time or have lower mortgage fees.
There are a lot of online stores these days and some of them would only accept credit cards as payments. Since you are unable to pay them in cash or other forms of payments, then you might have to cancel your transaction. With a credit card though, everything becomes easier for you. It is also faster to just swipe the credit card when you are on the grocery store and you are in a hurry to go elsewhere.
These are just some of the advantages that you will gain should you decide to use credit cards. You have to understand though that you may still face problems later on especially if you allow yourself to be a slave of your credit card. You need to be in control. You have to buy only those that you consider a necessity. Given all these advantages, using credit cards is still worth it.
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