subject: Credit Cards Great Uses For Them [print this page] Most people in the United States have at least two or three credit cards, and for good reason. These pieces of plastic attached to a credit line are very useful as a way to borrow money in the short term, quickly and easily. Although some people look down on credit card use, there are actually several great uses for them.
Short-Term Borrowing: Paying interest on credit card debt in the long run can get very expensive, but credit cards are great for short-term borrowing. Many people use their credit cards to make purchases during the month and then pay them off in full when the bill comes. When you do that every month, you never pay interest, which makes the credit card a way to get a free short-term loan.
Build Credit History: Credit card use is a major component of your credit report, and using one regularly can build credit history and improve your credit score. For best results, keep your balance under 30% of your credit limit every month and make your payments on time. This consistent payment history and responsible use of credit will look good when you go to apply for other loans.
Pay for Emergencies: Having a credit card on hand is perfect for emergencies when you need to pay for something on the spot. Whether its car repairs or a plane ticket to visit a sick relative, sometimes you cant wait until youve saved up the money. In this situation, its helpful to have credit available so you can charge now and pay later.
Avoid Payday Loans: Borrowers who have cash flow problems often turn to payday loans, but these are very expensive in interest and fees. The better solution is to have a credit card and charge purchases when absolutely necessary. Then pay off the credit card bill when the paycheck comes.
Here at CreditNowUSA, we can help you find the perfect credit card for your situation. Whether youre looking for rewards, a low interest rate, or something else, well connect you with the right card.
For more information, go to Credit Cards at http://www.creditnowusa.com/Credit-Cards
