The Benefits of Using Credit Cards

While many people are uncertain about using credit cards

, the truth is that credit accounts give us a fantastic opportunity to have far more control over our finances. Provided you are a responsible card user, you should never really run into trouble using your credit card, no matter how large your purchases. In fact, you might even find that the rewards you reap from using your card will make it all the more worthwhile.

One of the top reasons that using a credit card responsibly is the positive effect it'll have on your credit rating. If your credit card payments are on time and cover what you owe, your good card use behaviour will be compiled on your credit report, meaning financial institutions will be more likely to trust you with big sums on loans in the future. That means that when it comes the time to attempt to purchase a house, you'll be more likely to secure the loan you need and therefore be able to buy the house of your dreams with a mortgage you can cope with.

However, that's not the only benefit to using a credit card. Nowadays, plenty of major credit card companies offer a plethora of rewards and benefits to customers who use their cards. For example, you can sign up to air miles schemes that reward you by adding points onto your account which can be translated into a payment for flights to other parts of the world. This is a fantastic offer for many people, especially those who love to travel and are confident in their credit card use to be able to make purchases frequently and pay them off quickly.

Some credit cards also reward customers by giving them back extra credit into their accounts when they make purchases at participating retailers. This works by adding the reward credit into your account as you spend, and once you've accumulated enough credit in rewards you can use that credit as a form of payment at any of the retailers who are taking part in the scheme. That isn't too shabby a deal for using your card in a place you were going to be buying from anyway, is it?

Credit cards are a fantastic way of managing your finances and certainly have a lot of benefits in store for those who use them wisely - so don't be afraid to use your credit card, just plan your purchases wisely and keep tabs on when your payments are due so you can enjoy reaping the benefits without having to worry!

The Benefits of Using Credit Cards

By: Janine Barclay

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