by Natasha Gabrielle | Feb. 20, 2021
If you’re not using your credit cards for your everyday expenses, you may want to change your ways. There are benefits to using credit cards responsibly for regular purchases.
Credit cards are powerful financial tools. They allow us to pay for expenses that we need without having to carry around cash. They also make it less stressful to pay for emergency expenses. But do you still find yourself reaching into your wallet to use cash or a debit card when you’re in the checkout line? If so, you may want to change your ways, because getting into the habit of using your cards regularly can have its advantages. Here’s why you should use a credit card for almost every payment.
By charging your regular payments and ordinary bills to your credit cards, you’ll be able to increase your monthly credit card spending. This will allow you to maximize your credit card rewards. The sooner you reach your rewards goals, the closer you’ll be to a great redemption. If you have a credit card that earns great gas and grocery rewards yet you continue to use your debit card for these purchases, you’ll be missing out on points.
Credit cards are typically a safer option when it comes to fraud. When you regularly use a debit card, it puts you at risk of losing the money in your bank account. If fraud occurs, someone can empty your bank account quickly. With credit cards, you’ll be able to take advantage of included fraud protection. Plus, most top credit cards these days have fraud alert systems in place so that you’re able to detect fraud quickly and put a stop to ongoing fraudulent activity. It’s a smarter and safer idea to charge your credit card regularly instead of your debit card.
Using credit cards regularly is an excellent way to build your credit. When you use a debit card, the money comes directly from your bank account, so it’s not seen as a line of credit. Credit cards, on the other hand, show up on your credit report. Regularly charging your credit cards and paying off your credit card debt will help you build credit fast, which can help increase your credit score. The better your credit score is, the easier it will be to take advantage of financial opportunities in the future, like taking out a mortgage or getting a personal loan.
When used regularly and correctly for ordinary spending, credit cards can be beneficial. So the next time you grab your debit card, think again and consider using a credit card instead.
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