Should we be afraid of credit cards?
For many years, credit cards have been demonized in the worst way, but is it really those instruments of evil that we have believed? If you are thinking of becoming an owner of one of them, these are three key points that you should consider:
It is not about the card, but about the use you give it
Credit cards are not enemies of our finances. The key is to understand how to use them responsibly; that is, paying on time, not using too much line of credit, not seeing it as an extension of salary, among others. While you are responsible for its use, there will be many benefits you will get with them, such as discounts on establishments, accumulation of points, accumulation of miles, etc.
If you are interested in interests, finance a single fee
Many people say they don’t want a card because they don’t want to pay interest. Basically, the way to avoid that is to pay your purchases in a single installment. In this way, you will only pay for what you spent, with nothing additional. Being a totalero with a card is the best, because you do not generate any interest and, in addition, you continue to access the benefits it gives you.
The cards help build your credit history
Just like loans, cards also help you prove that you are a good payer, and you decide how much you will use them for that. Although at the beginning they can give you a relatively high rate, as financial institutions see that you are a good customer, it can be reduced.
Finally, remember that the offer of cards is a lot, so you should do some research to avoid finishing with a plastic that is not suitable for your profile. In addition, you may even have a pre-approved card, so it is another option to consider.
If you want to find out if there is a pre-approved card for your profile, use the Basil Ransom credit card collector.