Why Should You Use Credit Cards
Believe it or not, the way society, especially the commercial side, is set up these days, the only alternative to using credit is to pay cash for everything. But it's actually quite hard to do that. For example, if you want to rent a car, you have to have a credit card, even if you pay cash for the rental. The reason for that is because once a company has your credit card with your signature, they'll never lose money. If you default on anything, or if extra charges come up later, all they do is charge your credit card. Many companies require a credit card before they'll do any kind of business with you, for that very reason.
After you enter the workforce, it's a good idea to apply for a credit card with a small limit. Any one of the major credit card companies will help you. Those companies are Visa, MasterCard and American Express. Buy something with your credit card, and pay it off as fast as you can. That's the basics of establishing a good credit record. If you continue to do that, buying bigger and bigger items and paying them off, on time, then you'll end up with an A-1 credit rating. Then when you want to make a major purchase, like a car, or a house, you won't have any trouble qualifying at the bank.
So there's good value in using credit cards. They allow you to buy something you want now, enjoy it now, and pay for it later. That's the reason credit was given in the first place, way back in the 18th century - to allow you to buy larger items like furniture, that you couldn't afford to pay cash for. The system worked great, and still does today - as long as you don't abuse it.
Chris Dodd is the author of many informative articles on finance issues. Here at Low Apr Credit cards you can find the latest offers and credit card deals to help you reduce your overall credit costs.
MORE RESOURCES:
 Washington Post | It's a hard time to get new credit San Francisco Chronicle, USA - (09-07) 17:48 PDT -- Credit - the grease that lubricates the economy - is in short supply now and apparently getting even shorter. ... Video: US takes over mortgage giants - 08 Sep 08 Treasury Extends Secured Credit Line to Federal Home Loan Banks City Republic: US tries to kill the credit crunch |
Credit card proposal may get vote in Congress CNNMoney.com - NEW YORK (Associated Press) - Deepening economic distress and concern over consumer debt could help legislation that would overhaul practices of credit card ... |
Ill. credit unions help with college aid Chicago Tribune, United States - AP CHICAGO - Authorities say eight Illinois credit unions are stepping up to plug college funding gaps wrought by the credit crunch for student tuition aid. ... Ill. Credit Unions Help With College Aid State Secures More For Student Loans Illinois Offers $100 Million College Assistance Fund |
Impact of the Credit Crunch on UK Mortgage Product Structures MarketWatch - Although it is unlikely to recover to pre-credit crunch levels, the mortgage market needs to stabilize in order for a traditional and affordable mortgage ... |
 Wall Street Journal | Credit Suisse Ex-Broker Pleads Not Guilty Wall Street Journal - By CHAD BRAY NEW YORK -- A former Credit Suisse Group broker pleaded not guilty to charges he and another broker misled investors about purchases of ... First indictments of brokers in auction-rate securities heist In Auction Securities Crisis, Are Brokers the Victims, Too? |
Credit due to the man who helps us beat the cheats Telegraph.co.uk, United Kingdom - Experian, the credit-checking giant, had just demerged successfully from its unlikely GUS stablemate, the catalogue retailer Argos, and Robert was a new ... New Experian Research Highlights the Effects of the Mortgage ... |
A Report on the UK Consumer Credit Market in 2007 and an Analysis ... MarketWatch - The UK consumer credit market has continued to contract in 2007, as various issues such as the liquidity squeeze, high personal debt levels and weaker ... |
Credit freeze helps thwart ID thieves Arizona Republic, AZ - OK, so you'll never see Credit Freeze in a comic book battle of good against evil wearing a cape and long underwear. But like other superheroes, ... ID protection can be do-it-yourself |
Henry Schein Announces New $400 Million Credit Facility MarketWatch - This new facility, which matures in September 2013, replaces Henry Schein's current $300 million revolving credit facility, which was scheduled to mature in ... |
New CEOs Are Untainted by Credit Woes Wall Street Journal - Herbert M. Allison Jr. and David Moffett were on a short list of financial-services executives untarnished by the credit-market troubles. ... Video: Feds Take Over Mortgage Giants Paulson Taps Allison, Moffett to Run Fannie, Freddie (Update1) Few Stand to Gain on This Bailout, and Many Lose |
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