Having a credit card can be a great way to help manage your finances, so long as consumers use the credit card in the correct way.
Credit card holders can take advantage of using their card to help protect them when making purchases and budgeting. So long as they have enough money in their bank account to pay off their monthly credit card balance every month, they can help budget your money.
It also gives protection to purchasers when using their credit card under the Consumer Credit Act which can be a great advantage.
So long as consumers don’t use their credit cards as a source for money if they do not have the money in their bank account to pay off their monthly balance, they can be a great way to manage your money. But if you are not able to pay off your balance every month you could run into debt problems, and you don’t want that. Make sure you can pay off your monthly credit card bill every month.