Do You Accept Credit Cards? Good and Bad Reasons to Have a Credit Card


Statistics show that in 2018, between 35-44 million Americans did not have a credit score. 

This means that there is no history of those people in the credit system, making them virtually invisible.

Are you curious about credit? How does one build up their credit score? Is getting a credit card really necessary? Which are the best credit cards?

Keep reading to learn about reasons to have a credit card:

Good Reasons to Have a Credit Card 

A big reason why people get their first credit card is to start building credit. If you don’t have any loans in your name, getting a credit card is a great way to start proving to lenders that you can borrow money and pay it back on time. 

Whether you travel a lot or eat out every weekend, you could potentially be earning rewards points on the purchases that you already make by using a credit card to pay for them. Depending on the card you choose, this can come in the form of cashback, airline miles, or gift cards among other rewards options.

It is a requirement. No, it is not a requirement for you to get a credit card but some businesses, such as hotels and rental car companies, will require you to have a credit card in order to make the reservation. While not every business does this, it can be advantageous to get a card even if you only use it for those situations.

Bad Reasons to Have a Credit Card

Some people get credit cars to make purchases that they cannot afford. The credit limit should not be a goal to hit and the amount that you charge on the card should never outweigh what is in your bank account. Not being able to pay back the card brings on a wave of interest and late fees that can be hard to get out from.

Having a credit card can lead to an increase in spending and impulse purchases since you don’t see the amount deducted from your bank account immediately. This can make budgeting more difficult or set you back on your financial goals. 

What Having a Credit Card Means

Having a credit card may feel like a coming-of-age moment but it comes with great financial responsibility. It can be used as an important tool in your financial profile or become a great burden depending on how you use it. 

If you are wondering how to go about getting your first credit card, this article can help provide more insight into the process. 

Get Started Today

Now that you have read more about reasons to have a credit card, you can start your search for the right fit for you today. Finding a card that will work best for what you plan on using it for can take time but will pay off in the long run. Check out our blog for more informational articles like this one.

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