November 21, 2016
3 Unique Ways A Credit Card Can Enhance Your Life
Believe it or not, the first credit card was introduced to the world in 1950 by The Diner’s Club, Inc. The card itself was able to be used in a variety of places, but it was long after that when American Express launched as a company in 1958 providing cards primarily for entertainment and travel, and the rest is, well, history.
Today, credit cards are used by approximately 7 out of 10 Americans. As of late, there have been reservations about credit cards, but the same can be said for anything. As long as you know how the system works, you learn to manage your cards, and you pay off your debt, credit cards can actually really enhance your life. Here are just 3 unique ways a credit card can make your life better:
It Helps You Keep Track of Your Spending
Many people in the finance world would tell you that credit cards are a vice that should be shredded and burned, and that might be true for some people who are unable to control themselves and their spending, but if you get a card and download an app on your phone, or even if you just receive paper statements in the mail, the card is keeping track of where you’re spending your money for you.
This means that when you budget, you know exactly what is being spent where without having to physically write anything down. Of course, having an app will help you see where you’re spending on the daily, which will most likely help curb your spending as you go, so it’s a good idea to download the app and start tracking today.
You Can Earn Cash Back For Your Dollars Spent
Again, if you manage your cards well, you’re basically getting a free short-term loan, but the perks don’t stop there. There are many cards available on the market that have amazing cash back bonus offers that pay you back while you spend. This means that when you use your card to buy something you need anyway and the spending isn’t unwarranted, you’ll make money on that purchase. For example, Discover card allows you to get cashback that can be applied to amazon orders, but each card offers something unique so you can choose the card that best caters to your preference.
Some Cards Will Refund Your Purchase if the Company Won’t
Of the thousands of perks available out there by various credit card companies, one that is pretty cool is offered through American Express. Basically, if you buy something and decide to return it, but the company won’t take it back, American Express will eat the cost within a 90 day period of when you bought the item. The unique benefits go on, but we’ll stop it here.