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Credit Card Considerations: 8 Reasons Why Credit Cards Are Good to Have

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While much has been made of the western world becoming a cashless society, some experts argue that it's a long con put on by financial companies. While this isn't the best argument for why credit cards are good for everyone, it's not a terrible one either. Cash is falling out of favor and if you don't at least have a backup plan, you risk falling behind.

Here are five reasons why you need a credit card in your life.

1. Travel Is Hard Without One

If you like to travel, you've probably noticed that it's nearly impossible to get a rental car or a plane ticket without a credit card. Most purchasing is done online or over the phone, where you need a card to seal the deal.

If you go to a hotel, you're going to need to put down a credit card to pay for "incidentals". This protects the hotel if you steal the TV or you hammer a hole into the wall. While some hotels have gotten more flexible and allow you to use a debit card, some are steadfast in only allowing credit cards.

When traveling overseas, most people take out cash to spend on food and everyday things. However, if you run out of money, a credit card ensures you're not left holding the bill or stranded in a foreign place. Since most countries now accept most major credit cards, there's no limit to where you can go.

If you can buy a ticket to get there, you can probably swipe your card there.

2. Some Purchases Are More Than a Paycheck

Credit cards are great for tech loves and gadget lovers among us. While some gadgets are small and cheap enough to pay for with the cash in our pockets, others are much more expensive.

The cost of a new phone or a new laptop could run you $1,000 or more. If you want one now and can't get that money from an ATM or you're out on a Sunday when banks are closed, you're going to need a credit card. If you don't have that much cash in your account, you could still buy it with a credit card.

While most of the things we need on a daily basis can and should fall within the limits of our budget, some can't by their nature. A house, a car, or even a nice digital camera are never going to be within reach of just one paycheck for most of us. This shouldn't keep us from getting the things we need to get by or enjoy life.

3. Emergencies Happen

While it's easy to say that someone is just in case of emergency and end up using it over and over, this is a hard fact to deny with money and credit cards especially. A credit card can get you out of real emergencies when it comes to running low on cash or being stranded as mentioned above.

Some months are just harder than others when it comes to money. While we might make every effort to budget intelligently, things can get out of hand and require some help.

One of the most common times this happens for most people is when their car breaks down. Getting a flat tire, needing a tow, or having a part unexpectedly break means that the problem has to be fixed now. It often can't wait until payday and requires you to have a parachute.

A credit card is just the parachute you need in moments like that.

4. Cash is Hard To Come By

As stated at the top, the world is becoming cashless and that's making credit cards a vital element in the future. While it's not the solution for everyone, cashless stores and restaurants are forcing us to adopt their way or the highway. Some places still accept cash but others are going fully cash-free.

Another problem is that many people are abandoning traditional banking for online banking. The only hurdle that people face is that there aren't enough ATMs or places to take out cash for them. That means that you'll need to have something to use to pay for the latte or that meal you just ate.

Fewer people carry cash than any previous generations. Love it or hate it, there are a lot of reasons to have a credit card on your site. It will come in handy, come what may.

5. Get the Loan You Need

There are millions of entrepreneurs, inventors, and innovators all around the world. IF you're reading this, there's a good chance you're one of them. When you have your next great idea, you might need a little bit of funding to get it off the ground.

Those startup funds can be hard to come by if you haven't built up credit with the help of a credit card. They also might not be worth going through the process of applying for a loan over. If you need just a little bit of money to get your new thing started, you can give yourself a loan with your credit card.

While many people fall into the trap of debt that starts off with one small purchase, if you're able to control yourself, you could start a great new business. Just one idea and a little bit of money could change your life and bring you to new places.

For credit cards with no deposit, check out what companies like Bonsai Finance are offering these days.

Still Wondering Why Credit Cards Are Good?

If you're still wondering why credit cards are a good thing to have on your side, then you need to think of them as a tool. They shouldn't be your main source of income or financial support, but they can bring a lot of positive benefits.

When you get a credit card, check out our latest coverage for a warning for staying secure at all times.

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