8 Reasons Why You Should Use a Credit Card

Throughout the financially tumultuous past few years, the credit card industry has been the subject of a great deal of attention in the press, Congress and the court of public opinion. The system admittedly was broken. Shady credit card companies, hiding behind a conspicuous lack of transparency, were using bait-and-switch tactics and confusing policies to take advantage of their customers. Now that the Credit CARD Act of 2009 has eliminated most of these issues, we can again being to appreciate just how useful credit cards can be. So, without further ado, 8 reasons why you should use a credit card as long as you trust yourself to spend wisely.

1. Credit building

Having a solid credit history is necessary to garner approval for a loan, get a mortgage, buy or lease a car, or be seriously considered for some jobs. Use of a credit card is unquestionably the easiest, least expensive, and most efficient way to build credit. Why? Well, because credit card usage information gets sent to your major credit reports each month, thereby allowing a lot of information about your fiscal responsibility to compile quickly. Interestingly, since this information reflects both what you do and don’t do with a credit card, actually making purchases isn’t even necessary to build credit. Simply by maintaining a card in good standing and at zero balance, you’ll be viewed as a responsible consumer.

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