Should I Have A credit Card?

By: Admin / TextrOnline

People are no longer carry cash with them; instead, they carry credit cards. They are sleek, safe, and accepted for making payments just about anywhere. Aside from being a convenient payment solution when shopping and entertaining, credit cards also offer perks, rewards, travel miles, and cash-back after spending a certain amount and earning a certain number of points.
Many people buy credit cards to have a robust credit history, which helps in applying for loans and making a concrete FICO report. Some people choose to keep a particular credit card with travel-related rewards because they are frequent travelers seeking free miles and savings.

Whatever the case, everyone is into the concept of plastic money these days. However, is it the right time to have what some consider a trigger for unnecessary shopping sprees? In this blog post, we will explain why you should own a credit card and its benefits. 


The Sooner You Start Your Credit History, The Better

Building a healthy credit record is very important for making big purchases. If you start making credit scores after 25, you are likely to not be eligible for mortgage loans or car financing. Credit scores add up to support your FICO score, an algorithm that predicts whether you will payback your loan or not.

As you build your credit history, your chances to acquire loans with low-interest rate increases.  

Credit Cards Help Financing Large Purchases

Many credit cards offer 0% APR on purchases. APR stands for Annual Percentage Return, an annual percentage amount you have to return on your credit card transactions. With O% APR, you can finance large items such as furniture or appliances. The U.S. Bank Visa Platinum card is one of the many credit card options with 0% APR for the first 20 billion cycle of purchases. 

You Can Avail Flyer Miles

One of the best perks of having a credit card is that you can get free flyer miles. While many business owners in the U.S. have constant traveling, scoring a free ticket doesn’t sound so bad. You can earn flyer miles at the rate of one dollar per mile. Low-end credit cards might have 2 dollars per mile, but that doesn’t make a difference if you are getting free travel miles for your grocery shopping.  

Credit Cards Are Safer

Using a credit card to make payments is safer. If you experience buyer fraud and made payment using s debit card, it won’t get refunded since the money has been deducted from your account instantaneously. If the same payment was made via a credit card, the bank would undo the transaction and restore your credit limit if you notify them within a certain period. Similarly, you can dispute false charges made when online shopping and have them go away.

To sum up, credit cards help build credit scores while also offering better buyer protection. Hence, they are better than debit cards, and you should opt for one.  


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