subject: Credit Card: More Bang For Your Money [print this page] Credit Card: More Bang For Your Money Credit Card: More Bang For Your Money
There are many benefits to using a credit card. In fact, if you do not use a credit card, you are not getting the most out of your money because if you are going to spend money anyway, you may as well get points, discounts, and cash back for doing it, right? This is what credit cards offer. There are so many perks for using a credit card that it really would be a shame not to take advantage of them.
The only way a credit card would not be more bang for your money is if you allow your spending to be more than what you can pay on time each month because then you are stuck with paying interest on top of what you owe. The more you owe, the more interest you will have to pay. So, with a credit card, don't spend more than what you can pay. But, let's look at it this way, if you didn't use the credit card and used cash or debit instead, you would be forced to not spend more than what you have anyway. What would you do in that situation? You would have to manage your money to ensure that you had enough money to spend. You would have a budget, and you would be constantly checking your balance to ensure you did not run out of money cause once it's gone, it would be gone. So, why not do all of that with your credit card, and then you will always be able to pay your balance in full, and you will be able to enjoy all the benefits as well!
Credit cards are also important for getting loans. You cannot get a low interest rate on a loan if you have no credit, little credit, or bad credit. The only way to get good credit is to use your credit card the right way (paying everything off on time each month). You never know when you will find yourself needing or wanting a loan. Just be sure that your expenses do not exceed what you can pay.
