Too much debt is never a good thing, but sometimes even the most savvy consumer forgets about the 5 advantages of credit. When used responsibly, even a credit card offers several advantages.
- One of the 5 advantages of credit is that, in the case of credit cards, carrying these is safer than cash. If you lose a $100 bill, chances are, you're out of luck. But with a credit card, you can immediately report the loss or theft to the issuing company. Rarely are consumers held liable for unauthorized credit card charges.
- Another of the 5 advantages of credit is that you can easily make Internet-based purchases with credit. If using a debit card and your debit card number is stolen online, you may be out of luck as this is your actual money and not "money" based on a credit line. With credit cards,however, you have more of a chance that you will be protected against fraudulent charges even when shopping online for purchases like porn!
- Another one of the 5 advantages of credit is easier car rentals. Due to fraud, most rental car companies won't take debit cards any more. Those that do may require a hefty deposit. With credit cards, you can usually be quickly on your way in a borrowed set of wheels.
- Some hotels will not accept cash due to fraud concerns and require a valid credit or debit card. When you give your debit card to a hotel, they may hold some of your checking account funds for days. When you use a credit card, you don't risk having your deposited paycheck unavailable to you days after your trip is over with.
- One of the best of the 5 advantages of credit is the ability to build a positive financial history. When you pay your bills on time, you are typically rewarded with a good credit score. This can help you save money on car insurance, get a really nice apartment or home, or ensure you get a great borrowing deal on a new car.
What Others Are Reading Right Now.
Acting, comedy and strong spirits converge in Speakeasy. When host Russell Peters interviews entertainers about all sorts of topics, neither the drinks nor the conversation is wate …
6 Signs the Beard Is Just Not Working for You
You may need to grab a razor and ditch the facial fuzz.
How to Turn (Almost) Every Lady’s Head
Top female stylists share their favorite men’s looks.