Should I Be Using A Credit Card? A credit card comes with lots of advantages and disadvantages. Most financial experts try so hard to discourage people from using a CC, the reason being that lots of people use a cc carelessly and end up having a pile-up of debt.
However, if you can spend wisely using the card, why not go it. As a cardholder, you stand to gain outstanding rewards, points, miles, cashback and many more depending on the cards featured and spec. Find out the perks you will enjoy with a CC and also discover the disadvantages that come with it, in this very article.
Should I Be Using A Credit Card?
You can carry out your financial activities without using a credit card, but it’s a great idea to have a CC. Nevertheless, it might be worth getting a credit card to build your credit rating- this gives you high chances of getting a loan. As long as you pay your balance in full each month, it will help to improve or build your credit score. So, with a credit card, if you fail to pay off your debt each month, you will be charged an extra free.
Reasons To Have A Credit Card
There are many reasons you will need a CC. Which one of them is that it will give you the confidence to make purchases. This means as a Cardmember, there’s nothing to fear when you want to make purchases because your CC is ever ready to pay your bills.
Cardmembers are entitled to rewards, points, bonuses, miles depending on the CC after making qualifying purchases.
Advantages Of Credit Card
The list beneath is the advantages of having a credit card.
- Get amazing rewards points. It is designed to allow Members to earn one or more points on every $1 they spend. These points earned are mostly redeemed for gift cards, travel, restaurant etc.
- Enjoy frequent flyer miles. Some of the travel CC offers miles to users. You can earns miles inflight purchases.
- It offers bonuses to members. Cardholders enjoy a one-time bonus, with some credit card. Some cards offer bonus points to fresh cardholders on qualifying purchases with their card.
- Offers cashback to users. Most CC comes with cashback rewards when they make purchases using the card.
- It helps to protect your money. With your credit card, you will hardly lose your money, even if your card is missing, as long as your card details are intact. You have nothing to fear
- It gives users peace of mind. It comes with free additional consumer protection.
- Cardholders, with a good credit report gotten from their CC, can buy a car, house and get you the best interest rates.
- It offers free insurance
These are the advantages cardholders stand to enjoy with a CC.
Disadvantages Of Using A Credit Card
Everything that has an advantage will definitely have a disadvantage. Check out the following disadvantages of using a CC.
- Some cards come with an annual fee
- Some businesses apply a surcharge when you pay using a CC.
- A CC can lead to overspending
- Some credit cards come with high rates of interest
- it gives you credit damage when you missed repayments.
- Some fraud schemes attack CC.
- Some CC offers cashback fees and rates.
How To Use A Credit Card
To use a CC you must log in to your account, most especially when you want to make payments. To login to your account do the following
- Locate the CC official website
- Find the login tab and click on it.
- Provide your login details.
- Then, hit on the login button.
- To pay your bills, find the pay/payment button and tap on it. Then provide the required data, which includes your account number, SSN, date of birth, amount etc. Follow the onscreen directives.
These are steps to log into your account and make your bill payment.
Should I Use A Credit Card For Everyday Purchases
There are diverse reasons you need to use your CC for everyday purchases, they’re as follows
- Build your credit. You can do this by using your CC often and also paying off your debt monthly.
- Earn massive rewards. For CC that comes with rewards, the more eligible purchases you make, the more rewards you get.
These are some of the reasons you need to use your card for your everyday purchases.
- What’s My Best Credit Card Choice: Best Credit Cards Choice
- Are Credit Cards My Best Option? – Best Credit For Me
- My Business Credit Cards: List Of Business Credit Cards
- Am I Eligible For A Credit Card?: How To Apply For A Credit Card…