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Used to when you traveled you didn’t get your room until you got to where you were going. If there were no vacancies then you didn’t get a room and you may spend all night scouring the city looking for a room. Now you can make travel and hotel reservations with a credit card and know for a fact that when you got there you had a room, a rental car and a place to eat.
According to an article by Ezilon.com November 12, 2005: A credit card is also a convenient option for frequent travelers. No matter where in the world you are, credit cards would be accepted. There would be no need to exchange your bills for the local currency. Simply pay for your expenditures with your credit card and worry about the rest when you get home.
If you are a responsible consumer and pay your credit card off each month, then you can use it as a short term interest free loan. Wise use of a credit card can also help you establish good credit. If you always pay your balance on time, you will develop good credit which will make it easier for you to make larger purchases (such as a house) farther down the road.
No matter how you see credit cards, they are here, and it depends on the individual how they are used. There are so many varieties of credit cards, you can get prepaid cards that you put money on your self or you can get credit cards that have no spending limit. There are bank debit/credit cards that pull money straight from your checking account. I personally like the convenience of the bank debit cards. At the gas pumps they are very handy. You don’t have to go inside to pay for your gas. You don’t have the hassle of writing a check. It’s a lot faster to swipe and sign than it is to write out a check or count cash. You also have an itemized monthly bill. Here are a few useful tools when considering a credit card. According to Weighing the Pros and Cons of Credit Cards by Nate Desmond: If you do decide to use a credit card, remember to follow these tips. · Look for long “grace periods”. “Grace period” refers to the period of time during which no interest accumulates on the credit card balance. · Read the fine print. Avoid cards with annual fees or other unnecessary payments. · Only carry one card. The last thing that you want to do is “max out” on several high-interest credit cards. · Check the percentage rates. Try to find a card with a low interest rate, and then make sure to pay on time. Set a low credit rate. By setting a spending limit of $200-$1000 on your card you can avoid getting into major debt. Along with credit cards and other financial problems, there is no doubt that America is in big trouble. Some people think we are heading toward another depression. |
