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Credit Cards: How to Get Them, Manage Them & Keep Them

Living life without a credit card can feel like getting by without cable TV. You can function; you just might feel like you’re missing out sometimes. Over here your credit score says as much, if not more, about you than your social profiles. And credit cards provide the foundation for that score. Without it, achieving many of the financial goals that are most important to you would be nearly impossible.

There are other ‘pros’ too, including:

  • Convenience
  • Using credit card statements to track your spending
  • Revolving credit equates to quick loans when you need them
  • Perks, incentives and rewards
  • Less cash tied up when renting cars and hotels.

There are also a number of ‘cons’ including (but not excluded to):

  • Credit cards make it too easy to spend beyond your means
  • Credit card statements equal more paperwork
  • Fees if you carry a balance or miss a payment
  • Fees for ‘conveniences’ like cash advances
  • High interest rates that often outweigh a credit card’s benefits

So, plastic is not always fantastic. In financially irresponsible hands, a credit card can lead consumers into all manner of pitfalls, valleys and catastrophes. In your hands, however, a credit card is tool, one you should use wisely to build a solid credit reputation.