Today It Seems That Everyone Has A Credit Card

Category: Finance, Credit.

Today it seems that everyone has a credit card. So, exactly what is the benefit to having a credit card?

There are people everywhere charging their gasoline, coffee and every other item you can think of. Why are all these people busily charging their purchases instead of paying hard cold cash? When you are walking around with cash in your pocket it is very easy to spend your money quickly without realizing you are doing it. The first benefit of having a credit card is the ability to keep close watch on your purchases. A credit card helps you track your money with a two- fold method. This makes you very aware of the money that you are spending. The first part of the method is actually reaching in your wallet and pulling out your credit card.

For whatever reason, many people think a bit harder about charging a purchase on their credit card than they do when they have cash in their pocket. You have a complete rundown of everything you have spent your money on throughout the month. The second method for tracking your purchases is through your monthly statement. If you are trying to budget your money, having a monthly list of charges makes it glaringly obvious where you may be wasting money. Another benefit of having a credit card is the availability of services that are only open to you if you have a credit card. You can total up the number of times you purchased a three dollar cup of coffee and see what that seemingly harmless purchase can add up to in a month.

It is virtually impossible to rent a car or hotel room without a credit card. The credit card company protects your purchases, as well. A world is closed to you if you cannot produce a credit card. Some credit card companies even provide insurance for purchases and even extend warranties. And if your card is stolen most credit card companies will not hold you responsible for the purchases made by the thief. Your credit card company will protect you if you are wrongfully charged also.

The bottom line is that responsible credit card ownership provides many benefits to the consumer. Pay off your purchases at the end of every month and you will find that you are able to acquire all the benefits without paying the price. If you are disciplined with your card you will find that the perks far outweigh any downside.

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