The Pros And Cons Of Credit Cards

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"Temptation is the Devil's workshop." Credit cards companies have long used a variety of marketing methods to encourage American consumers to step right up and apply for the latest credit cards. It sounds tempting, but how many people actually need credit cards? In case of a real emergency, credit cards could be very useful. Beyond that, they don't seem to provide anything more than a convenient way to extend one's presumed buying power.

The Truth About Credit Cards
In the hands of many Americans, credit cards are rather harmless. These people generally have the luck and resources to use the cards and get them paid off with a minimum of issues. However, it begs the question; "Is creating a society overly reliant on consumer debt worth the
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That's a lot of credit cards with a lot of available credit. It would seem to be an obsession while some Americans actually consider it a rite of passage to get their first credit card. The problem is when you get right down to the bottom line, most people don't need credit cards and would be better off financially if they never had…show more content…
Here's a look at seven reasons why consumers apply for credit cards they don’t need.

1. Get Those Rewards Points - Many credit card companies offered rewards points for travel, discounts and rebates when its credit cards are used. However, rewards are only beneficial to people who pay in fill on time each month, eliminating high interest charges and possible late fees that will offset any rewards benefits.

2. Emergencies - This might seem a valid reason to keep at least one credit card, but putting aside adequate savings for emergencies is a far more effective way to protect oneself and avoid extra interest charges in the process.

3. Build Credit - Credit cards can help consumers build credit faster. They can also destroy one's credit faster if even a single payment is sent in late. Paying rent and utilities on time is often enough to establish a good track record for reporting
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