Why You SHOULD Have a Credit Card

Nope, I’m not a credit card company I’m just a 20 something that has actually earned money, as well as genuinely benefitted from having a credit card.

From the very first day I applied for my credit card I told both my parents that I planned on only spending money on it that I had in the bank anyway. So why the credit card any way you may ask?

The first is short-term, you can earn a little bit of money by spending money on the card every month. No, it’s not much but it’s nothing to sneeze at either,

This is the reason I actually put as many large or recurring expenses as I can through my credit card, this means that as long as I have the money any way I get the cash back. Which brings me to the next element. Credit.

Your credit score affects nearly your entire livelihood. If you live anywhere you have to have developed a good credit score to prove you’re a trustworthy person in order to qualify to be a mortgage holder. That or you’ll have to prove your financial well being to a potential landlord.

I got my first, and only up to this point, credit card about when I turned 18, I got an offer from Discover to get a basic card that had a small return wherever I spent it, had no annual fee, and they were said to have good customer service. So far I’ve never had a late payment, and I’ve made over $100 dollars since I got it, plus my credit score is growing. Discover is not the only option, especially since it’s not accepted as many places as others like Visa, but they’ll accept entry-level applicants at least.

Be forewarned, NEVER use one that has an annual fee, even if it has great cash back, because it’ll probably be a wash once you compare expense to return, and you’d probably also feel more obligated to spend on credit for things you potentially shouldn’t.

Credit cards are part of life, and they’re the easiest way a young person can go about building their credit early on. Just make sure you understand the positive and negative consequences associated with having this spending power.

I have a credit card and a debit card. I believe everyone should have each of these, maybe two of each, and if you’re a business owner you’ll obviously have more, but for the majority of the population, that should do it. You should have a credit card unless you are very bad with money and cannot trust yourself