Credit cards are often considered a bad form of debt. While it can’t be denied that the misuse of credit cards is rampant worldwide, there are also some benefits to owning a credit card.
Here are a few good reasons to apply for a credit card:
Boost your credit score
If you have discipline, credit cards may make good financial sense. If you need to boost your credit history and score, getting a credit card may be a good idea. If you need to establish a credit score, this may be a good reason to apply for a credit card.
Shopping trends are changing every day. More people are opting for online shopping nowadays rather than travelling to shops. Online shopping is much easier when you have a credit card. You can also save money on the items you purchase by using a credit card.
Handy for emergencies
Having a credit card means that you have instant access to money in case of an emergency. A credit card provides an instant solution to paying off unexpected expenses.
You get to earn Rewards
Most credit cards have reward programmes for customers. These can be anything from travel points for flights to discounts on electronics or groceries.
Having a credit card is often safer than carrying wads of cash around. If you’re travelling around the world, using a credit card can be quite convenient too.
If your credit card is lost or stolen, you need to report it immediately, so that any fraudulent purchases aren’t charged to your credit card.
If you’re looking to buy big-ticket items, using a credit card can be convenient. You can pay these items off in small amounts monthly. Most credit cards have an interest-free period, so you can repay the amount without paying any interest.
It’s important to apply for a credit card only once you know that you can afford to repay it.