If you have never applied for a credit card, you should consider getting yourself one as a Christmas gift this year! Having a credit card can help you buy other presents on your wishlist, and a credit card is a gift that gives back to you.
These are some of the major benefits of owning your first credit card –
1. Helps build credit history
Using a credit card responsibly helps you build a good credit score. Having a good credit score will get you cheaper loans in the future if you need to borrow money for a new car or house.
2. Can be used anywhere
Whether shopping online or at your favorite store, you can use a credit card for nearly all of your payments. A credit card is much more convenient and safer than carrying around cash, and most cards come with fraud protection so you don’t need to worry if they get lost or stolen.
3. Earn rewards
Some credit cards offer rewards every time you spend with the card. (Your first credit card will offer fewer rewards, but you can usually upgrade to a better one within a year.) Rewards usually come in the form of cash back, points, or miles and you can save hundreds of dollars each year just by earning rewards. You will thank yourself when you use those rewards to buy gifts or plan a vacation for next Christmas!
Best Starter Credit Cards: