Purchasing and shopping today has evolved in a different kind of perspective. The use of a major credit card is now safer and easier compared to bringing cash and paying cash. It is a now a form of identification, even when just renting a car a major credit card can do you wonders.
While there are many positive things that a major credit card can help us with. If not handled properly you would as well end up with bad credit. The majority of U.S. citizens have at least one major credit card and maybe two or three more.
Do any of these look familiar?:
Why do majority of American have one? Well for one, having to own at least one major credit card, just gives you the convenience of being able to have everything you purchase be credited to the card and you can have a month to pay for it.
The scary thing with having a major credit card is that having no knowledge on how it works. Just because you can have things swiped and you can have it paid in a month doesn’t mean you can do it all the time with all the cards you have. That’s just asking for trouble!
Though indeed there are a lot of benefits a credit card can give like purchasing medicines that are too expensive or having to pay for hospital bills. Unfortunately, presently when one sees a credit card they just see bad credit written all over. If you’re an impulsive buyer with your cards; purchasing things that you can’t really afford then of course you’ll end up with a bad credit report.
That is one thing you want to avoid when you apply for a major credit card. Keep in mind, what you want the card to be used for and to be firm in not having impulsive buying here and there. Before even applying for one, you should understand how a credit cards work. How it works financially for you and technically.
One of the first major credit card companies were from Diners Club, Inc. that started off in 1950. And the American Express Company that began in 1958. Though there are a lot more credit cards, these two were the most used and the primary major credit card there were. Up until today, these companies are still considered one of the major companies for credit cards.
Other major bank cards that followed through with the two major leagues are MasterCard and Visa, still having that well known name to date. Till now, there are a lot of smaller banks who offer credit cards for local and regional areas but with tie ups and connections with the national and international banks.
With the use of major credit cards, there has always been the fear of fraud and online hacking and online credit and identity theft. May it be online or done locally. This is one scary way where you might end up losing a lot of money. So again, before venturing into getting your own major credit card make sure you have a thorough understanding on how the system works and how it is beneficial for you.