When you make your day-to-day purchases using a credit card, you also get the following benefits:
Why carry wads of cash when you can just swipe your credit card and go? Millions of vendors worldwide accept credit cards and using a card is often the only way you can make online transactions.
Cash flow management
Credit cards let you borrow money, which means you can use them to pay bills or make purchases even if you don’t have the cash immediately on hand. For many Canadians, particularly those just starting out, this is a huge benefit.
Credit card providers act as an intermediary between you and the merchant. That means credit card charges can be reversed or put on hold if someone tries to defraud you or give you faulty goods.
Features, perks, and rewards
Many credit cards offer perks and rewards just for using them. Depending on the card you choose, you might get fraud protection, travel points, cash back, or special access to concerts and sporting events.
It’s a fact — using your credit card responsibly can help you establish and improve your credit score over time. For Canadians looking to boost their credit, nothing works better than using a credit card and promptly paying your bill every month.
Credit cards offer a convenient way to track your monthly expenses and monitor your spending. Many cards also itemize your purchases by category so you can see exactly where your money goes each month and how your spending habits change over time.
Cheap to use (in the right hands)
Credit cards don’t cost a lot of money if you use them responsibly. As long as you pay your credit card bills on time and in full, you won’t be charged interest or late fees, making them very inexpensive to use.
Nobody wants to be stuck without a way to book a hotel room, buy something online, or pay for parking. Credit cards aren't just a convenience, they’re a necessity. All you have to do is find the right card.