Can’t Get A Credit Card? Here Is What You Are Missing.

Can’t Get A Credit Card? Here Is What You Are Missing.

Credit cards used poorly can be driving factors in debt which can lead to terrible financial situations.  However, if they are used properly they can provide great benefits.  If you are unable to qualify for a credit card you are missing out.

Airline Miles

Many of the major airlines have partnerships with various credit cards.  Because of these partnerships, you are able to earn airline miles for every dollar you spend. Some credit card companies even have times of the year where they will double the miles you can earn for purchases.  If you use your credit card right you may just get yourself a free vacation every year.

Cash Back Rewards

Just like airline miles many credit cards offer cash back rewards for purchases made.  This means every so often you can actually receive a cash payment from your credit card company for just making your normal everyday purchases.  Free money is always good.

Renting a Car

If you have tried to rent a car recently you probably have been asked for a credit card.  In the past, some car rental companies would allow you to use your debit card but not anymore.  Rental companies want the assurance that you having a credit card brings.  It lets them know you won’t be skipping out on a payment and you will be able to cover the payment.  Having a rental car will come in very handy on the free trip your airline miles will give you.

Positive Payment History

Payment history accounts for the largest part of your credit score and having a credit card you pay on every month is a great way to have positive payment history and maintain a high credit score.

Now we want to remind you that when you are able to qualify for a credit card again be sure to use them wisely.  You don’t have to carry a balance each month.  If you are able to pay off what you spend every month then you won’t have to pay whatever interest is attached and you can still get your rewards.  If you get into a situation where you have to carry a balance on your credit cards make your payments on time every single month.  There is no sure fire way to ruin the good credit score you have built than to fall behind on your credit cards.

2017-12-20T12:19:27+00:00 July 25th, 2014|Credit Cards|