The Pros And Cons Of Having A Credit Card

Posted by Nick Niesen on October 29th, 2010

Are you a credit card owner? If you are not, the thought may have crossed your mind. After all, you have likely received numerous credit card offers in the mail or you may have even been presented with credit card offers online. To determine if having a credit card is the best decision for you, you are advised to examine the pros and cons of having one. A few of the most influential pros and cons are outlined below for your convenience.

Perhaps, the biggest pro or plus side to owning a credit card is ease of use. It is no secret that credit cards are easy to use. Many retailers are simplifying the process of paying for purchases with a credit card. What does this mean for you? It means that credit cards are becoming even easier to use. Whether you regularly find yourself in a rush or if you dread holding up the cash register lines, when filling out a check or searching for the correct amount of a change, a credit card may be just what you need.

In keeping with ease of use, you will find another pro to having a credit card. That pro is the ability to shop online. In recent years, the popularity of online shopping has, literally, skyrocketed. Many consumers love having the option of shopping in their pajamas and having their purchases delivered directly to their door. Unfortunately, many online retailers have restrictions, in terms of methods of payment accepted. Unless you are lucky enough to find an online retailer that accepts electronic checks, you will not be able to benefit from online shopping unless you own a credit card.

The perks or benefits you often gain access to is just another one of the many pros to having a credit card. The credit card perks or benefits you receive will all depend on the credit card in question. In fact, that is why it is important for you to choose your credit card carefully. Credit card comparison enables you to choose the credit card that best fits you and your needs. If your cards are played right, that credit card can be one that you can benefit from immensely. It is common for many credit card companies to allow or offer balance transfers, rewards, and so much more.

It is also important to mention the protection that you receive. In the event that your credit card become lost or stolen, you should not find yourself responsible for any illegally made purchases. With that in mind, it is first important to fully review each credit card application you complete. Most credit card companies have rules and restrictions, concerning theft protection. These rules and restrictions may include a liability limit, as well as a time frame in which you must report your credit card lost or stolen.

Although there are a number of pros to owning a credit card, it is also important to examine the cons or downsides to owning one as well. If you have a television, a radio, or internet access, you likely already know how large of a problem credit card debt is. It is something that millions of Americans suffer from. Yes, having a credit card does put you at risk for debt, but this is a risk that you can eliminate. By properly using your credit card and making on time payments, you will not find yourself falling victim to credit card debt. In fact, your credit score may even improve from owning and properly using a credit card!

As outlined above, there are a number of pros to owning a credit card. Of course, the decision as to whether or not you want to own a credit card is your decision to make, but it is important to remember that credit cards can do more good than harm, if used properly.