Why You Should Get a Credit Card

The debate on whether credit cards are a must-have has drawn plenty of responses from across the globe. Some think they aren’t while others, including financial experts, view them as a must-have.

According to experts in money matters, credit cards offer an array of advantages as long as you maintain financial discipline. However, using your credit poorly can mess up your finances, leading you into economic turmoil.

Here are some reasons why you should consider getting one.

A Better Way to Track Your Spending Activities

At times, some expenses might go unnoticed. Nonetheless, your credit report will show a breakdown of all the costs incurred over a given period. These reports can come in handy when filing your tax returns or consolidating your business income.

The reports can also be saved for years for you to access at any time you wish.

Achieve Excellent Credit History

Owning a credit account for some time adds extra points to your report. Typically, money lenders will want to see how long you’ve held a credit card before loaning their money to you. Besides that, you can get a personal tradelines review to help you earn more points on your report.

While you’re at it, you must stick with an account and avoid opening a new account regularly. Having many accounts will have a negative impact on your score.

Balance Transfers

This is one of the most underrated advantages of owning a credit card. This transaction allows you to shift a balance on one card to another. For instance, if you have a loan on one card, you can move it to another that offers lower interest rates. The advantage of this is that you will save more money in the long run.

Fraud Protection

Credit cards are more protected than debit cards. Once you report to your credit company that you’ve lost your card, it will be blocked immediately.

Additionally, the company will not charge you for any dishonest purchases made on your card by fraudsters. The federal law also protects cardholders from losing cash through scams. If you make the report in time, the most you could potentially lose is around $50.

You Can Earn Points

Some credit companies run loyalty programs with rewards for various milestones attained. The points earned can be converted to gift cards or money.

Most of these programs revolve around your spending habits. For example, if you fly regularly, you can earn points that you can redeem to pay for your next flight.

Earn Cash Back

Cashback credit cards will help you recoup a certain percentage of the cash for every expenditure. Even though the interest could be small, over time, they could amass to some huge savings.


Some people fear owning credit cards because they fear it might negatively affect their finances. However, if you can keep your financial discipline, holding a card can help you in many ways. Additionally, when you have one, you can quickly get a loan from banks as long as your credit score is good.