Everyone need a credit card!!

Everyone should have a credit card. I can hear the righteous indignation now: "We're a nation in the midst of a debt-driven crisis, with a trillion ringgits of personal borrowing – and now that Money Saving Expert's telling us that credit cards are our friends".

Just use them to pay, not to borrow, says money saving expert: Martin Lewis

Let me explain, though. Many people think that credit cards equal debt. But they have two functions: they let you pay, and they let you borrow – and the trick is to eliminate the borrowing element.

Then they become a powerful weapon, boosting consumer protection and sometimes putting hundreds or thousands of pounds in your pocket. Of course, those who've had credit card problems, or tend towards undisciplined overspending, should take no risks. But for the debt-free and disciplined, there's profit to be had as long as you strictly follow a simple golden rule: always set up a direct debit to repay the card in full each month.

That neuters almost every mainstream credit card's interest charging ability. Provided you stick within the credit limit, and never make ATM withdrawals, it works just like a billed monthly debit card as there is no interest. 

Fail to pay off the card each month, though, and the interest charge dwarves the gain.

Enjoy the best Restaurants in Your City at 90% off!

Credit card advantage one: spending is safer Spend on credit cards and you are better protected, a by-product of the law's attempt to ensure that people actually benefit from what they paid for with "borrowed" money.

Advantages to have a CREDIT CARD 

Convenience--Credit cards can save you time and trouble--no searching for an ATM or keeping cash on-hand.

Record keeping--Credit card statements can help you track your expenses. Some cards even provide year-end summaries that really help out at tax time.

Low-cost loans--You can use revolving credit to save today (e.g., at a one-day sale), when available cash is a week away.

Instant cash--Cash advances are quick and convenient, putting cash in your hand when you need it.

Perks--From frequent flier miles to discounts on automobiles, there is a program out there for everyone. Many credit card companies offer incentive programs based on the amount of purchases you make.

Build positive credit--Controlled use of a credit card can help you establish credit for the first time or rebuild credit if you've had problems in the past--as long as you stay within your means and pay your bills on time.

Purchase protection--Most credit card companies will handle disputes for you. If a merchant won't take back a defective product, check with your credit card company.

Balance surfing--Many credit card companies offer low introductory interest rates. These offers allow you to move balances to lower-rate cards.