If you don't have a credit card or have one that you don't use very much, you may be request yourself: "why do I even need a credit card?" Many people are sceptical about the need to have a credit card, even though so many others have more than one. If you are not sure either credit cards are precisely necessary, then here is some advice to help you to resolve if you need a credit card or not.
Do I need a card?
Credit Cards For People With No Credit History
The first thing you should ask yourself is either or not you precisely need a credit card. If you have managed perfectly well for years without a credit card, and your situation hasn't changed, then maybe you don't need a card. If you have money saved then you don't need a card for emergencies, and there is no need to pay fees and interest if you can live comfortably the way you do now. However, if you find that you are unable to buy large items that you need because you cannot afford to buy them in one go, then you should look at getting a credit card.
Credit history
Although you might not need to spend on a credit card because you are perfectly fine with cash or a debit card, not having a credit card can harm your credit history. If you are a responsible spender then having a credit card will help to build up a credit history. Although you might have never been in debt, this can precisely be a question when you come to get finance such as loans or mortgages. Lenders like to see that you can cope debt such as credit cards. Having a credit card plainly for the purposes of improving your credit history is a good idea. If you spend on the card wisely and pay your bills on time then you will have a best opportunity of getting great deals on loans and mortgages when you need them.
Security
Another guess why having a credit card is leading is security. Credit cards are much more obtain than cash or debit cards, and you can stop people from taking your money. Also, if man does use your card you are normally covered and can claim all or part of the costs back. Card safety also works the other way, and many retailers or aid providers require a credit card for bookings or purchases. maybe the best examples of this are hotels, which often require a credit card in order to allow you to book a room or pay for extra services.
Debts
Of course, there are reasons why you don't need a card. They are highly tempting to use, and with high credit limits you often feel like you are not precisely spending money. This can put you deeply into debt and will severely harm your credit rating if you cannot make the repayments. If you are man who cannot precisely operate their spending, then you should probably steer clear of credit cards.
Are cards necessary?
Although credit cards can cause debt and other problems, for most people they are a necessity for daily life, and are required for them to live their life properly. However, this doesn't mean that getting a credit card is right for everyone. If you are honest with yourself and look at your lifestyle, you will be able to resolve either getting a credit card is right for you. As long as you can make the repayments and you use the card responsibly, then having a credit card is a good idea.
When Do You surely Need credit Cards? Credit Cards For People With No Credit History
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