TOP SIX BENEFITS OF CREDIT CARDS

SPENT RESPONSIBLY, CREDIT CARDS CAN BE A HANDY FINANCIAL TOOL.

A credit card can be a useful tool. The key is to monitor your spending, make your payments each month and keep your debt in check. If you follow those simple rules, credit cards  have some great benefits, including:

1. CONVENIENCE

One of the biggest advantages of credit cards is convenience. Sometimes it’s just easier to “charge it.” Maybe you don’t have cash on hand and can’t get to a bank or ATM. With a credit card, you just swipe and go.

2. REAP THE REWARDS

Some credit cards reward you for your purchases with cash back, travel points or Air Miles. Others grant you exclusive benefits and privileges, like access to airport lounges or even reserved concert tickets. Every card is different, so it’s important to choose the card that fits your lifestyle.

3. THERE WHEN YOU NEED IT

Life is unpredictable and credit cards offer a degree of security or stability. Unexpected expenses can happen quickly. That’s where credit cards come to the rescue—they can help tide you over during those difficult periods.

4. RECORD KEEPING

Ever wonder where your money went? With credit cards, you have extensive records of your spending. That makes budgeting a breeze.

5. IMPROVE YOUR CREDIT RATING

Did you know that every time you make your credit card payment on-time, you improve your credit score? That’s why it’s so important to develop good habits with your credit card. Your credit score can come in handy when applying for a loan, a job, or renting a car or home.

6. PURCHASE PROTECTION

Often overlooked, purchase protection essentially insures goods that you purchase against theft or accidental damage for a limited time. Broke those sun-glasses you just purchased? Check to see if your credit card will cover the cost—every credit card is different, and not all offer purchase protection.

If you’re looking for a new credit card, we can help. Our new Northern Visa Credit Cards offer great features and benefits like credit back to your account for every dollar you spend, low rates and exclusive rewards.