What are the advantages of using a credit card?

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asked Apr 12 in Credit by Cartyx (300 points)
What are the advantages of using a credit card?

1 Answer

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answered Apr 15 by Grahlu (8,080 points)
Benefits of using a credit card over cash or checks is the convenience of paying for things whether in store or online.

When  you're in a store all you need to do is swipe your card instead of standing in line to write out a check or to count the cash you have in hand.

This speeds up the checkout process. Of course you can pay much easier through a debit card as well but another benefit of using a credit card for purchases over a debit card is that when you use your credit card and pay back the balance on time and pay more than the minimum payment the use of the credit card will help to build your credit score.

Building up your credit score is important for you to be able to get car loans, home loans, business loans, personal loans and any other loans or credit you might need.

With a debit card it doesn't affect your credit score at all but with a credit card they'll report your on time payments to the credit bureaus.

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