For many consumers, credit card purchases offer better value than paying cash
Foster City, CA – January 31, 2022– CardRatings.com, a leading credit card comparison site, provides a guide explaining the chief benefits of using credit cards for most purchases while also highlighting characteristics of consumers who should probably pay with cash.
Find the resource: What’s the point in having a credit card?
“It’s true that most Americans have at least one credit card, which means they’re reaping a number of benefits not available to those without a card,” observes Brooklyn Lowery, editorial director and credit card analyst for CardRatings.com. "Sure, there are considerations to take into account when it comes to having a card, but with some planning and education, it’s not hard to see the benefits of adding a card to your personal finance toolbox."
The guide discusses the best way for consumers to evaluate credit cards. If used responsibly, the following points illustrate why having at least one credit card is beneficial:
- Build credit. The best reason for consumers to responsibly use a credit card is to boost their credit score over time.
- Simplify budgeting. Credit cards can be an excellent way to build a solid financial foundation and create a workable budget.
- Preserve savings. Hold onto cash while tackling unexpected expenses via monthly payments.
- Convenience and security. Credit cards are versatile and can offer layers of fraud protection.
- Earn rewards. Perks can result in real money-savings.
While there are significant benefits associated with credit card use, they aren’t for everyone. Lowery is available to discuss ways consumers can stretch their money with credit cards and can comment on cases where using cash makes the most sense.
CardRatings.com is owned and operated by QuinStreet, Inc. (Nasdaq:QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. CardRatings is a member of QuinStreet’s expert research and publishing division.
CardRatings.com innovated online credit card ratings and has been offering independent ratings and reviews of credit card offers since 1998. The website collects and maintains data on more than 700 credit card offers and carefully compiles objective lists of the top credit cards by card type, making it easy for consumers to find the right card to fit their needs.