Do You Really Need a Credit Card?

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Do You Really Need a Credit Card?

There are plenty of people who don’t use credit cards. For one reason or another, they feel that avoiding “plastic” is in their best interest. And there’s nothing wrong with that. You should always do what you feel is best for your financial health.

So, the answer to the question “do you really need a credit card” is simple: no. You can survive without one of these in your wallet or purse. However, there are many benefits including but not limited to the following.

1. Convenience

Let’s face it: convenience is a big deal when it comes to your finances. You don’t want to get bogged down by anything — such as a cash system — that causes you frustration and holds you back from reaching your goals.

A credit card is the most convenient way to make payments, both online and at physical locations. 

2. Increased purchasing power

You don’t want to spend money that you can’t afford to pay back, but you definitely gain increased purchasing power with a credit card. For instance, if you want to make a big purchase — such as an international vacation — you can use your credit card to ensure that you have the funds needed to do so. 

3. Opportunity to earn reward points or cash back

It’s a good feeling to get something in return when spending money. With a rewards credit card, this “something” comes in the form of reward points or cash back. While you’re taking advantage of many other benefits, you’re also getting something of value in return every time you make a transaction. 

4. Access to credit score 

Depending on the type of credit card you choose, you may have access to your credit score whenever you want it. This is a nice tool to have at your disposal as it helps you determine if you’re trending in the right (or wrong) direction. 

5. No foreign transaction fees

When using a debit card in a foreign country, there’s a good chance you’ll get hit with a foreign transaction fee. And these fees can quickly add up over the course of your time away from home. 

Choose a credit card that doesn’t have foreign transaction fees. This is a particularly good idea if you’re the type of person who is always traveling internationally. 

Final Thoughts

Again, you don’t need a credit card to survive. You can do just fine without one. Just make sure that you consider the benefits before heading down this path. Many people find that using a credit card for some or all of their purchases is a life changer.

Do you regularly use a credit card? Have you moved away from doing so? 

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