Articles

Best Times to Replace Cash With Credit Cards

by Fusion 360 Studios Digital Marketing Specialists

Sticking with cash can seem like the perfect recipe for staying out of financial trouble. Why add on any debt to those payday loans? However, there are certain times where credit cards trump cash. Their purpose extends far beyond borrowed money.

Although debit cards are generally the easiest route in Utah and anywhere else, credit cards often come with sign up bonuses. These bonuses can range from $50 to $250 depending on the card. Some even offer rewards or air travel points. 

Many people stray from these bonuses because of the threat of debt that looms over credit card holders.  However, those threats do not have to be frightening if the card holder simply resolves to pay any purchases off immediately with cash. Credit cards don't necessarily have to increase the debt on top of any previous payday loans. They can simply be a good way to rack up points. 

Some credit cards even offer cash back as a reward for accumulated points. Explore the benefits that come with being a card holder before choosing any one card from a bank in Utah or anywhere else. Benefits even extend to travel. Cards are much more difficult to rob and can be reported and shut down within hours of the incident. 

It also significantly diminishes the exchange rates when you use a credit card. Converting cash into euros is never cheap. By using a credit card, those fees are almost entirely eradicated. There is no room for wasted money when payday loans are a monthly necessity. 

Another important reason to use credit cards is so that you can build your credit. Credit is required before buying a home in Utah or any other state. Without using credit, there is no way to build a good credit score in order to qualify. 

By paying off a credit card purchase immediately after the fact, it will build extraordinary credit that will be a benefit in the long run. However, only attempt to build good credit if it is within your financial means. 

If not paying off the balance in full or on time is an issue or if you tend to spend more than you can afford, credit cards may do more harm than good. If these types of issues persist, only use a credit card when you can immediately pay it off in cash. Also, the occasional payday loan might help in the ways of minimizing debt accumulation. When used wisely, they’re a great benefit for those in need of cash.

Credit cards don't have to be a painful. Simply know your limits and practice control, resolving to only spend a certain amount at the mall in Utah or any other American location. Soon, you will find that using a credit card can bring in extra money rather than extra debt.

Shauna Holdaway is a finance writer reporter for Fusion 360, an SEO and content marketing agency. Information provided by Quik Check Financial.


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About Fusion 360 Studios Innovator   Digital Marketing Specialists

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Joined APSense since, February 2nd, 2015, From Salt Lake City, United States.

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