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Advantages of Credit Cards and Why You Need One

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When used responsibly, the advantages of credit cards are nearly endless. In fact, credit cards are actually one of my favorite personal finance topics to talk about because of all the great benefits they offer.

Credit cards are one of those things that get a bad reputation because of the horror stories you hear about consumers racking up insurmountable amounts of credit card debt. Don’t get me wrong, those horror stories are real and scary, but it’s also fairly easy to avoid getting caught in a bad situation.

When you use a credit card the right way, you can take advantage of all the perks and rewards that they offer.

Using it the right way really just means paying it back on time and in full every month. You’ll hear me say that a few times, because, well, it’s just that important.

Before diving in, we’ll level set on what defines a credit card. If you’re already an expert, go ahead and skip to the next section.

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The Powerful Benefits of a Good Credit Score

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There are a few finance tips that matter much more than others when it comes to helping you live a stress-free life. Starting to invest in index funds early, using the right credit card, and attaining a good credit score are three of those tips. Today, we’re focusing on the benefits of attaining a good credit score.

People with strong credit ratings get access to better financial opportunities throughout their lifetime. For example, they can access low-interest loans (like online mortgages) and high-rewards credit cards more easily. These perks have the ability to save thousands of dollars (if not more) over your lifetime.

In general, a good credit score comes in handy whenever you are looking to borrow money. And borrowing money is not always a bad idea. Actually, in some cases, it can be a very good idea.

Though, you should always use borrowed money carefully. Borrowing for short-term wants is usually unwise, while borrowing for a mortgage or car loan is typically necessary.

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Is The Apple Card Worth It?

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The Apple Card came out back in August of this year, and ever since then, I’ve been wondering to myself, “is it worth it?”

Apple is one of the most innovative companies in the world. Obviously, the bar was set pretty high.

From music to cell phones to computers, there is no shortage of industries that Apple has been able to disrupt. So are credit cards the next horizon for Apple to enter, innovate in, and totally change the game?

The short answer: no.

Unfortunately, it seems like the Apple Card came up short in a lot of categories and as a result, is not worth it. We’ve got the details below.

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Is Credit Karma Safe?

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Seeing your credit score and viewing your credit reports has become a necessity in this day and age. Everything is becoming digitized, and new websites are launching all the time. But it can be hard to know if sites and apps like Credit Karma are safe or if they are a scam.

Credit Karma provides a free and easy way of viewing your financial history. I discovered Credit Karma earlier this year, and it has drastically simplified my life.

However, it’s always wise to confirm the company you are using is legitimate and safe before jumping in.

The reality is that you should be paranoid about giving any person or company your social security number. If the wrong people get that info, that can easily lead to identity theft or having your financial accounts drained.

Or they might show up at your house asking for money. And nobody wants that.

Before we dive into talking about whether Credit Karma is safe, let’s first look at why you should want to view your credit report.

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How to Choose a Credit Card – 5 Easy Steps

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Learning how to choose a credit card is a lot like learning how to invest in index funds – there are 5 steps and it’s easy to do once you know what you’re doing.

Like riding a bike, it’s something everyone should learn at some point in life.

Learning how to choose a credit card fixes two big problems that people face with credit cards today:

  1. Not using a credit card at all.
  2. Using a credit card, but not using the best one possible (like the new Apple Card).

Simply put, credit cards pay you to shop! It’s like getting everything on sale. As long as you use them responsibly and pay them off on time, they are a great tool to both get a discount on everything you buy and build your credit to help with other financial goals.

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