If you think a credit score is no big deal, and therefore you’ve skipped out on getting a credit card or doing anything else toward establishing a credit history, you may be in for a rude surprise down the line.
The roof of your house suddenly springs a leak. The kids need new shoes, again. Your credit card payment is due tomorrow, and oh yeah, your boss just told you no one’s getting a pay increase this year after all.
If you carry a credit card (or two) in your wallet, then you probably think you already know everything you can do with it. Chances are you use it to pay for meals out at restaurants, to buy things online, and in case you need to use it to cover an emergency situation.
Even though the average American household has at least three credit card accounts, there are still those holdouts that think it’s a virtue never to buy anything on credit and who never want to have a credit card.
Credit cards are a great financial tool that everyone should have in their back pocket. They can enable you to afford a larger purchase and pay it off over time, help you earn reward points and cash back, and offer you purchase protection for the things you buy with the card. And that’s just for starters.
If you love traveling, you probably already know what you need to pack before you head to the airport: passport, toothbrush, phone charger, spare pair of pants. But there’s another item that’s absolutely essential: a rewards credit card.