Should you relay on credit cards for all payments?

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There’s no doubt that credit cards are some of the most powerful financial tools you have at your disposal. After all, you can completely ditch cash and opt for this less stressful way of paying for any kind of emergency expense. But is this an overall good idea?

The short answer would be “yes”, as paying with a credit card for pretty much everything can come with many advantages. And, over the next minutes, we’re going to discuss a bit about some of the most noticeable.

More payments, more rewards

Obviously, the biggest advantage of constantly paying with credit cards is that you’ll increase your monthly spending. This means maximizing your credit card rewards and, the sooner you reach rewards goals, the greater the redemption.

For example, if you have a card that gets you bonuses like grocery rewards or gas, it would be a shame to miss on these by using your debit card instead.

It helps your credit score

Another advantage of using credit cards on a regular basis is that it helps you build credit. For example, when you use a debit card, that’s money coming directly from your bank account, therefore it’s not considered a line credit.

On the other hand, credit card purchases show up on your credit report, and regularly making these will help you build credit in an accelerated manner. And this, you guessed it, helps you increase your credit score. The better it is, the easier it will become to access other financial products in the future.

They are one of the safest options

And finally, we shouldn’t forget about safety when it comes to paying with credit cards. Specifically, when you’re using a debit card on a regular way, you are, to some extent, at risk of losing the money you have in your account. And if fraud occurs, the risk of having your account emptied is high. But with credit cards, things are a bit different.

Most top cards include fraud alert systems, allowing you to detect any unusual behavior almost instantly and stop any fraudulent spending. Basically, charging your card regularly and using it is a smarter and way safer way of spending, when compared to a debit card.

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