I am looking for many points of view please
2007-04-03 19:50:09 · 7 answers · asked by Raver Xeno 4 in Business & Finance ➔ Credit
There are many benefits in having major credit cards and store cards.
As long as you keep the cards in good standing of course.
A "few" examples of the hidden benefits that many people don't think of
You pay less in insurance for your vehicle, home, etc.
You pay less in interest for major purchases - home, car.
You look good to a prospective employer.
You can rent a car (as the previous poster mentioned)
You look better to a prospective landlord.
You have an easier time when you travel - pre ordering your plane tickets instead of standing at the ticket counter with cash hoping they have a seat for you.
Reserving your hotel room
You make a purchase with your card and have problems with the purchase, it's far easier to have the problem resolved by going through the credit card company.
Your credit card gets stolen and used - you are only liable for the first $50 - you use a debit card and it is stolen, they wipe out your bank account and generally you just have to live with it.
Some not so hidden benefits of using a major card or store card
The rewards
You can have rewards cards that give you free merchandise, free air fares, free cruises, free money, etc.
Many stores will give card holders special discounts on items from time to time
Discounted gas prices with both gas cards and some major cards.
0% interest for 6 months,12 months, etc. for the larger purchases.
Of course there could be a down side if a person does not make their payments in a timely manner, if they go overlimit on their cards or if they just stop paying.
Unless a person has a special promo rate of 0% for X number of months, it is always best to pay in full before or after receiving the statement.
2007-04-04 01:16:37 · answer #1 · answered by echo 7 · 0⤊ 0⤋
I had a friend that thought he could get through life without credit cards. Full adult, responsible guy, otherwise normal. We took a business trip together and he tried to get a rental car. Offered cash. The rental car company said "Let's see here, you will give us a couple of hundred dollars, drive off in our car worth a couple of tens of thousand dollars and we just met, right?" After we all stopped laughing, I got the rental car for both of us. Same sort of thing happened at the hotel.
Sorry to say, a credit card is a necessary evil today. Whether or not it becomes evil is all up to you, but if you let it get out of hand even a little it will bite you badly. Interest rates can automatically go up to almost 30%.
2007-04-04 03:08:45 · answer #2 · answered by ZORCH 6 · 1⤊ 0⤋
Hi!
Yes..but as has been said...they are not hidden. It is very common for banks to offer even checkcards that have rewards..like Washington Mutual's 3% back on purchases.
With some of the real cards..more benefits come to the fancier ones...you just have shop around..depending on what you want.
2007-04-04 11:44:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A couple people had mentioned renting cars, in addition to that VISA covers the insurance if something would happen to that car so you don't have to buy the insurance coverage from the rental company.
2007-04-04 15:07:21 · answer #4 · answered by RG 2 · 0⤊ 0⤋
they have accumulated points. if you reached the number of points you want you can exchanged it for a rewards such as appliances, gift checks, toys, plain tickets etc. plus if you know how to use your card depending upon your budget you will enjoy having a visa/mastercard
2007-04-04 03:00:18 · answer #5 · answered by Jean A 2 · 0⤊ 0⤋
Earning rewards and building your credit. Although, I wouldn't exactly say these benefits are hidden.
2007-04-04 02:54:38 · answer #6 · answered by curiousT 2 · 0⤊ 0⤋
they're all a curse, visa is accepted most everywhere.
2007-04-04 02:53:12 · answer #7 · answered by Anonymous · 0⤊ 0⤋