Just about every adult has credit cards. Every now and then, you come across people who don’t. Usually they don’t believe in credit and adamant that it leads to no good. While it’s admirable to pay for everything in cash, there are also good reasons for having and using at least one credit card.
1. Beats carrying all that money around – Why carry hundreds of dollars shopping for groceries or clothes. What if you lose your wad of cash at the mall? You’ll probably never replace your lost cash but you can replace a lost credit card. Moreover, it’s easier to manage and gets you through the line quicker.
2. Credit is good for you. Even if you only use your credit cards for a couple of purchases, as long as you pay it all back in a timely manner you’ll have good credit and a good credit report to show for it. This will come in handy when it’s time to buy a house or car or take out a loan.
3. Credit cards make it easier to return or repair items – If you purchase a defective item, it’s easier to replace or receive a refund with a credit card. If the manufacturer or shop owner refuses to issue a refund, you can contact your credit card company. They’ll retract the payment while investigating and if it appears you did indeed receive a lemon, will make sure you’re not charged the price of the item.
5. Credit Cards are Global – Why fumble with international currency when you don’t have to. Just about every country accepts one of the big three credit cards (Visa, Master Card, American Express).
6. Online Shopping – Though some stores accept Paypal, most don’t. When shopping online, you’ll need a credit card.
7. You never know when you’ll need it – Accidents and emergencies happen. A credit card will get you a tow truck when your car breaks down, a hotel room when you’re lost late at night and even medical care.
8. It helps with reservations – Try reserving a car, flight or hotel room with cash. It’s not easy.
9. Extend your warranty – Credit cards extend your warranty when you purchase large items and electronics.
10. You can better keep track of expenditures - With a credit card every cent you spend is listed on your statement. This helps with keeping track of money spent and makes record keeping easier.
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