There are times where a large purchase would be within reach if payments were possible. When someone needs to finance a new oven, washer, or other large appliance or utility, the additional costs of interest may be worth having the item sooner than later.
Credit cards are a safer bet for travelling than cash or debit. Debit cards tend to attract more cases of theft and misuse, and cash can make you an easy target or be cumbersome during expensive trips. On the other hand, credit cards tend to offer added protection regardless of how far you are from home. This security bonus is true whether or not you’re on the road.
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Additionally,credit cards are extremely useful when building credit. Without transactions and payments to report on your credit report, you may not be able to secure larger financing. This includes home loans and auto loans, so the difference between using a credit card to build credit and avoiding credit cards to avoid debt may be difficulty securing other financing in the future.
Lastly, emergencies sometimes call for funds that simple aren’t available, and a credit card may be the way to divert a disaster within the household. It is not an ideal situation to be in debt, but an unlivable home, lack of a vehicle, or other emergency is far worse than a little debt.
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