Friday, April 1, 2016

What Are Credit Cards Pros And Cons

What are credit cards pros and cons? This is a good question and should be thought about before getting one. 

In my opinion everyone should have a credit card, but if you have a gambling problem or like to spend too much and can't control it, then possibly it wouldn't be wise to have one. Once you spend all the money you have on you, at least you are done, but if you have a credit card, you are more apt to spend more than you can pay and that is where your problems begin.

So since we have started with the cons, let's take a look at the others. The biggest one of course, is overspending, the next is high interest rate. Those can be handled depending on you. Keeping track of your credit card is very important, if you can't don't get it. You need to check every few days to make sure nothing has been charge on your card, especially if you are an online purchaser. Another problem that seems to be happening is fraud, but here again, if you watch your card, it can be handled.

Basically, the cons I described cover most of the problems, but they can be handled by you. Now it all depends just how dependable you are.

The pros definitely out way the cons. To begin with by just having a credit card will improve your credit if you keep it up and build up the value of your card. 

The next thing I really like, is many cards give you money by enrolling with them. If I see a card that says they will give me a gift card after my first use on my card, I normally always enroll. I also am a cashback freak. The bigger percentage the cashback the better chance I will get that card.

Another thing that really catches me with cards is 0 percent interest on transfers. Discover, Citi and Barclay are the three banks that seem to give out 0 percent more than any other banks with hardly any upfront fees. Of the three, Discover has the highest, but they have a great cashback program.

Another pro for a credit card is the fact that if ever you have an emergency but don't have money at that moment you could use a card. If you are usually low on funds just save your card for emergencies only and then try to find a card that is offering a 0 percent. You can enroll so you can transfer the card you had to spend the money for the emergency in to it. This way you can pay it off without paying any interest.

The most important thing to remember is to payoff your credit card every month. Credit cards have too high of interest rates to carry a balance.

Here is the best pro, by using your credit card to purchase with people you are not sure of or paying for work to be done that has to have half paid upfront, then using a credit card will save yourself from being ripped off. You can always dispute a credit card if something goes wrong, but if you pay with cash or check you can just forget it. As far as fraud goes, just notify your credit card of any charges on your card that you have no idea where they came, especially if you can show it is from another State. I normally call the number on the charge and give the company the chance to give me a refund and find out if they know who used the card. Trust me I have had a couple arrested due to fraud. Make sure you cancel your card and get a new one.

Hope this blog answered your question what are credit cards pros and cons, because if it did then hopefully you can now decide whether you can get yourself a card or not and maybe one day you just might need Refund Or Dispute.