Consumers
Students
Some of these advantages include:
The ability to buy needed items now
Not having to carry cash on hand at all times
Offers the free use of funds, provided you always pay off your balance in full by the due date
Can help you establish a credit history and earn a credit rating
Can act as a safety net
More convenient than writing cheques
Offers reward points, which you can redeem for products or services
Makes it easy to buy things over the Internet or telephone
Accepted almost everywhere you go around the world
Most card companies have programs in place which don't hold you responsible for fraudulent activity on your cards
Helps you mange your finances by allowing you to keep track of your purchases and spending behaviour.
While credit cards offer convenience and reliability, there are things one should keep in mind when using a credit card. Credit cards offer interest-free loans to those who pay off their entire balance every month, however, those who do not will have to incur some interest charges. And, if not managed properly, credit card use can get out of hand -- so, it's important to make sure you use your credit card wisely.
