Why Is It Good to Have a Credit Card?
Credit cards are a means of paying for purchases instead of using cash or checks. Though credit cards have the potential to cause you to overspend, they do have a number of benefits.
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Convenience
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Credit cards give you the convenience of being able to pay for purchases with just the swipe of a card instead of having to count out exact change or write out a check.
Credit Score
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If you just pay with cash, you do not build up your credit history. When you have a credit card, you build up your credit history which, as long as you make your payments, improves your credit score.
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Rewards Programs
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Many credit cards offer rewards programs that allow you to earn cash back, travel or other rewards for your spending.
Protection in Case of Loss
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If you lose your credit card, you can simply call the credit card company to cancel the card, whereas if you lose a large sum of cash, it is gone for good.
Grace Period
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When you pay with a credit card, you do not have to pay for it until the end of your billing statement plus the grace period, which can equate to a free month without interest as long as you pay your bill in full each month.
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