Thursday, December 15, 2011

What are the benefits of getting a credit card?

I'm 21 and I've been contemplating about getting a credit card for a while now to build my credit. Aside from building credit are there other benefits to owning one? Ive never thought of credit cards and as to how they work. Any recommendations?|||I use the card itself as a window scraper in the winter, works great! And I find that the super thick bills are great for making last minute grocery lists. Oh, and the collection calls are great alarm clocks too! Other than building credit, there really isn't any other upside to credit cards. If you're late by one day on your payment, that cozy 5% interest rate shoots up to 35%. Once your in credit card debt, it's damn near impossible to get yourself out. Don't get one. Take out a bank loan if you're short on cash or have unexpected expenses. Credit cards are the devil!!|||Having a good credit score gets you the best rates on car loans, and mortgages.

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