It will improve your credit as long as you pay them on time. Also my credit card gives me a list of my expenses in categories at the end of the year. I can look at see where my money has gone.

I also get cash back on my credit cards. Some give frequent flyer miles.

We use our cards like checks. We never charge on them, what we can’t pay at the end of the month. That way we have no interest.

The advantages of using credit cards is that it helps you build a credit rating which is a good thing. There are a lot of advantages to using credit cards but there is also some disadvantages.

Credit cards are an excellent way to build up your credit. In todays world, your high credit rating will get you lower intrest rates on your care/home. Also..you need credit cards to rent cars/secure hotel rooms or to buy items online. Many cards provide incentives such as airline miles or bonus points based on the amount charged to your card. The thing to keep in mind is that you don’t use the card to buy things you don’t have the cash for. Cash is king…but in todays world, plastic makes living a lot easier.

The only advantage is being able to establish a credit history or try to improve your credit rating. But, you need to make sure you use them wisely and not max out your credit card or it can cause trouble for you and cost you a LARGE amount of interest to pay it off over a long period of time.

To improve your credit rating, you should pay off your credit card each statement (or at the very least make your payments on time and for more than the minimum amount). To establish a credit history, you don’t want to pay the card off each time. Creditors want to see a good payment history. So in this case make payments, but make more than the minimum payment.

In addition to building your credit, an important feature is that you can dispute a credit card charge if there is any problem with the transaction…such as inferior merchandise. Also, some cards give perks such as free replacement, free insurance on rental cars, etc. HOWEVER, it is a good idea to pay off IN FULL all credit card purchases when the bill is received.

well the only advantage is to increase your credit rating. IF you use credit..for gods sake have the cash to back it up other wise credit cards will kill you financially for a long time

The obvious advantage is convenience, i.e. you don’t have to have the right amount of coins and bills to pay for your purchase. The disadvantage is you have to remember that using a credit card doesn’t mean you don’t pay, it only means you don’t have to pay NOW. As long as you DON’T think of your spending limit as your credit limit PLUS the funds in your bank account (your credit card is only a different way of spending the same amount money, i.e. the funds in your bank account) AND you pay the full amount owing when you get your credit card statement, you’ll be fine. (On a further note with respect to convenience, for world travellers, you don’t have to visit the currency exchange to purchase funds in the currency(ies) of the country(ies) you’ll be visiting.)

Advantages of using Credit Cards:

– Receipt (on your statement)

– Alibi: to provide yourself with evidence on whereabouts at certain times

using credit cards efficiently can up your credit score more than cash.