Reasons to Get a Credit Card

By: Richard Adams

Credit card advertisements are literally everywhere. When one enters a bank there will be applications prominently on display virtually as soon as you walk through the doors. Television commercials appear all the time promoting the benefits of certain credit card companies. Direct mail campaigns have - for better or for worse - promoted credit card applications for decades and this method of advertising has greatly expanded into the world of online email mass marketing. Yet, despite this prevalence of credit card advertisements, many people feel somewhat unsure of whether or not to get a credit card.

Such questioning is not necessarily a bad thing as any type of lending procedure should be thought out clearly - even a venture as commonplace as a credit card application. There are, however, those individuals who remain somewhat stubborn regarding acquiring a credit card. For these people, there needs to be a little information put forth in the form of compelling reasons to get a credit card. No problem! A few of the main reasons for getting a credit card will be provided herein.

More than anything, it is never a wise idea to carry a lot of cash around in one's pocket. Consider the following scenario: you wish to purchase a $1200 television set and you are carrying the cash around in an envelope. When it comes time to pay for the television set - lo and behold - the money is gone and never to be recovered. Now, if it was a credit card that was lost or stolen all one needs to do is call the credit card company and have the card shut off. This way there will be no financial losses. Additionally, many cards come with theft insurance against unauthorized purchases and if the card is used illegally there may be a way of being absolved from the debt. When money is lost...it is lost forever.

On a side not, credit cards can offer "buyer protection insurance" where if there is a problem with a credit card purchase that is not resolvable with the person who sold you the item, the credit card company will insure the transaction and provide compensation if the deal goes bad. This is obviously not possible when paying with cash.

Also, credit cards serve a very valuable purpose. If you seek an auto loan or a home loan there will be a need to check your credit history. Now, if you do not have a credit history you may find yourself out in the proverbial cold when it comes to having a loan approved. As such, making purchases on a credit card and then paying the balances on the card in a timely fashion will help establish a history of responsible and trustworthy credit.

Credit cards also raise your ability to make purchases that might have previously been cost prohibitive. That is to say, if you need to purchase something that is $300 and it is out of your range of immediate affordability you can make the purchase and then pay the amount back in installments that are affordable within your budget. Of course, this type of purchasing must come with great responsibility or else the potential to amass mounting debts will occur. This undermines the benefits of a credit card and should be avoided.

Because the credit card market is notoriously competitive, many of the different lenders will provide a host of benefits to attract your business. This can include reward programs for retail merchandise, cash back benefits and even free airline trips! As such, these incentive benefits can be accrued when purchasing with a credit card making a credit card an attractive option to use for purchasing needs.

As one can see, there are a multitude of positive reasons for acquiring a credit card so what are you waiting for? Put in an application for one today!

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