A Quick Overlook of Accounts – Your Cheatsheet

Benefits of Getting a Credit Card

When it comes to personal finances, you might have been told of reasons why you shouldn’t get a credit card without knowing the fact that these cards can be a good financial tool for your benefit too.

The assumption being implied here is most likely about how it could be a hassle in your part to pay for your credit card balance every month. If you are unable to pay the credit card balance completely for what is due in a month, the amount that you will be paying in interest will negate a number of advantages that it has to offer. For those who possess the discipline to always settle their balance each month, you should consider the following reasons why you will benefit from a credit card:

Keep You Credit Score Clean

A credit card can be a huge help in establishing and improving your credit history, and it can even boost your credit score. Credit score can actually affect payments, and if your score is higher or better, then the less you will have to pay. So, if you have a high credit score, it means that you will be paying an interest rate of a few points lower when it comes to mortgage loan than the rate of other people who have a poor credit history; this could amount to thousands of dollars savings for the entire life of the loan.

You could also say that it can be used as an advantage in getting a job, since a lot of employers nowadays would look at potential employees’ credit scores and in the process, they will be eliminating those who actually have a bad credit history.

Online Purchases

If you have a credit card with you, you will definitely be guaranteed of a lot of different types of savings on items that you purchase. You will definitely see a lot of great deals if you search of it on the internet. In most cases, the only way for you to pay for the items that you plan on purchasing is through a credit card. Without a credit card, you could be paying even a lot more for the exact same item that is available to be purchased online, not to mention all the costs that you will have to deal with for driving downtown to get the item.

Availability of Emergency Money

Credit cards can also be considered as your instant access to money if you are in a state of emergency. Majority of the people around the world always have cash in their pockets that is just enough to survive the day but not enough if placed in an emergency situation. The best thing about credit cards is that it can be your instant solution to paying a lot of unexpected expenses and having to settle it later with your bank account.

Source: http://www.technews24h.com/2016/10/why-customer-experience-is-todays.html