Credit cards have, probably justifiably, got a pretty bad name, largely down to the trouble that people find themselves in if they’re misused. But of course, there are always two sides to every story, and when credit cards are used responsibly, they can be quite useful.
The Money Hospital wrote an article a few weeks ago giving 7 reasons to use your credit card for everything, which highlights the positives on spending on plastic – here are some of my favourites:
- Build up your credit rating – show that you’re a god customer and can pay off your credit.
- Quick and easy – credit cards save you having to count out hands full of coins.
- Great for accounting and spending reports – keep track of all transactions online, helping you to manage your finances better.
The article fails to mention the cashback you can make on some cards, plus the real big benefit of the protection you get when buying online with plastic – if there are problems with the product you buy, or the product never arrives, then the credit card company is partly liable.
Remember, the tips in the article are only valid if you pay off your credit card balance in full each month. If you’re not doing this, the you’re not really using your credit card efficiently.