It is a necessary evil. You need to take out several credit cards and pay them in a timely manner while simultaneously carrying decent balances in order to build credit. Pretty stupid, eh? You'd think that it would benefit your credit to NOT have a bunch of credit cards in your name. The system should change but I doubt that it will. Honestly, credit should not even exist in the first place.
I have gotten a credit card just to improve my credit I rarely used it only for emergency like a rainy day or I needed something and didn't have the money. my monthly bill wasn't much so I would pay more than the amount due on it and always on time. I think its a good way to build up credit but it's hard getting one when you have bad or no credit.
Well, there is a good chance that the credit card company will cancel your card if you only use it for emergencies. Why? Because you are not a profitable customer. They want you to carry a balance every month and not pay it off in full. The aim of the credit card industry is to make you pay interest on purchases. Conservative customers like yourself are the antitheses of their business strategy.
I only have one credit card ,which I got to improve my credit score and I have definitely seen a big improvement in my score. As long as you pay the card off in a timely fashion, a credit card is a great tool to have. I love looking at my credit score on Credit karma now, instead of being ashamed of it.
Sadly we live in a society that has mistakenly taught us that we need credit cards because it's a matter of prestige. Whoever has none is look as a poor devil, and is denied to have certain services that can only be acquired by credit card holders. I believe that sometimes is necessary to apply for a credit card with the sole purpose to build a credit history, the risk is feel confident that this card will open the door to new cards that soon will be offered to the applicant without even ask for. Problem with credit cards is, above all, that most of the times people believe they represent "extra money" that they have to cover unnecessary expenses, forgetting that is just a line of credit that has to be repaid from their own regular income.
