Personal finance gurus often look down on credit cards. They may claim that it’s irresponsible to borrow or equate credit cards with some sort of moral failure. But the truth is that credit is helpful in many ways.
Credit allows you to leverage your money today.
It helps provide you with a borrowing history in the event that you purchase a home, take out a business loan, or get a personal or auto loan.
Your credit score can effect your employment.
Credit means you can take advantage of rewards and discounts offered to cardmembers.
Credit cards allow you to travel with ease.
Credit also does something that cash and debit cards can’t do-it provides you with a higher level of protection against fraud. If you lose your cash-it’s gone. If someone swipes your debit card or number-you may be out thousands. Credit cards allow you to have peace of mind that no matter what happens you won’t be liable for charges that are made that are not your own.
While it’s true that we have to use care not to borrow more than we can pay back (guilty) and that we should avoid high interest rate debt that doesn’t mean we should eschew credit cards altogether.
To help you learn more about credit I put together a guide of sorts that includes links to all kinds of helpful information.
How Do You Apply For Credit
If you’ve never had a credit card before or have question about how a credit application works you can read more here: applying for a credit card from Discover.
How Do You Get Good Credit
Now that you have a credit card how do you keep or improve your credit score? I lay it all out in this post about how to establish good credit. Read more about establishing good credit here.
How Do You Transfer A Balance
You may already have a credit card with a balance, but you’re considering your options. Maybe you’re looking for a 0% introductory rate or maybe you need a card that will let you pay it off over time-in any case you can read more about saving with a balance transfer at Discover.
What If You Can’t Get A Credit Card
If you or your child is trying to establish or re-establish credit you may have to work on building credit without a card to start. Follow this advice on how to build credit without credit cards and reapply in 6 months. Read more about credit without a credit card here.
How Do You Pay Off Debt
Maybe you’re already deep in debt with your credit cards and looking for a way out. It takes hard work, but you can dig your way out of debt $1 at a time. Find my advice on how to pay off your debt from 2009-it’s still the same advice today! Read more here.
Get your free printable debt tracker here.
What About Credit Scores & Reports
If you have questions about how your credit score is calculated or how to get a copy (for free!) of your credit report you’ll find this post helpful. Read more about credit scores and reports here.
Find More At Discover
Read more at Discover’s Resource Center: Click to Discover’s Credit Resource Center.
Disclosure: This post is sponsored by Discover. I was compensated for my time as part of the Discover Preferred Blogger Network. All opinions are my own.