Do I Need a Credit Card? 5 Key Reasons Why You Should Have One


credit card

Have you been putting off getting a credit card? It makes sense.

Unfortunately, 43% of credit card users carry a balance every month. This means they aren’t getting the real value of credit cards.

The question you have to ask yourself is, “do I need a credit card?” We’ll answer that question in this post.
Keep reading to learn why getting a credit card is worth it.

1. Credit Card Rewards

Wouldn’t it be great if you can get free stuff and get cashback just for spending money? The good news is that you can with credit cards.

Several cards offer cashback and point rewards programs. You’ll get rewarded every time you use your card.

Use these programs to save a bit of money or get free products.

2. Fraud Protection

The good thing about using a credit card is that you aren’t using your money immediately. You can pay off the money you spent at a later date.

This is useful when you’re dealing with fraud. If you pay with cash or your debit card, your money is gone right away. You either lost your cash or are stuck waiting on the bank to get your money back.

Credit cards companies will refund any unauthorized purchases. You won’t lose out on any money lost by fraud.

3. Signup Bonuses

You have a lot of choices when it comes to credit cards. Luckily, this means that credit card companies are going to be competing for your business.

Many of the top credit cards offer sign-up bonuses when you sign up for them. You spend a certain amount over a few months, and you get free money.

You can sign up for a new card and make a purchase you were going to make anyway. You can think of the bonus as a discount on what you bought.

4. Product Insurance

It would be a great world if products always worked when you purchased them. Unfortunately, that doesn’t always happen.

Not all stores offer a generous return policy. The good news is, some credit card companies will cover your loss through insurance.

Always check your terms to see if you have this benefit available to you.

5. Balance Transfers

Are you stuck with debt from another service? A balance transfer to a credit card can help you out of this situation.

If you have a high-interest rate, you may be paying more on your interest than you are on your account balance. Move your balance to a credit card with an introductory 0% APR so you can get rid of the extra interest you have to pay.

Do I Need a Credit Card? Final Thoughts

Now you should be able to answer the question, “do I need a credit card?” Credit cards aren’t bad on their own. It’s misusing them that leads to problems.

If you can control yourself, then there isn’t a reason you shouldn’t be using a credit card.

Of course, you do need to have your finances in order if you want to reduce your chances of misusing a card. Head to our lifestyle section to find tips that can help.


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