When we talk about credit cards in the millennial space, credit cards are usually the bad guys. We talk about how most millennials have credit card debt and usually encourage young people to pay for things in cash.
But I’m actually a HUGE believer in credit cards, when they’re used the right way. Even though I can afford to pay for things in cash, I put all of my monthly expenses on my credit card and then pay the balance at the end of the month.
Why? Because of points and rewards, people!
If I’m going to spend the money anyway, why not benefit from some perks while doing it?
So to dive a little deeper into some of these benefits, here are three reasons why I think all millennials should have a rewards credit card.
Because, Intro Bonuses Are Usually Amazing
If you do your homework correctly, you’ll find that a lot of credit cards offer really big intro bonuses that you’ll definitely want to take advantage of. When Joe and I opened up our Barclaycard Arrival Plus™ World Elite MasterCard® , the intro bonus at that time was 50,000 bonus miles when you spend $3,000 within the first three months. Since we buy almost everything with our Barclay card, we spent that $3,000 real fast, and those 50,000 bonus miles translated into a $500 travel statement credit that we used to help pay for our trip to Napa!
You’re Rewarded For Purchases You’re Going To Make Anyway
Like I said, Joe and I use our Barclay card for everything. We use it to pay for our gas, we use it to buy our groceries, and anything else we’d typically be buying with cash. But the thing about cash and debit cards is that you don’t earn rewards or points when you buy things, so long story short, you’re leaving money on the table. I’m never going to recommend buying things with a credit card that you can’t afford, but if you’re making day-to-day purchases, you might as well get rewarded for them!
You Get Some Extra Money To Enjoy New Experiences
Now credit card perks vary depending on which credit card you have, but for the most part you can count on earning points for most purchases you make which can then be redeemed for cool stuff. With one of my previous credit cards I’d use my points to buy restaurant gift cards. Since I couldn’t afford to go to fancy places on my own, every year I’d rack up enough points for at least two really nice fancy meals at premium steakhouses and I’d treat Joe and I to an experience that we wouldn’t be able to afford otherwise. With our Barclay Card, we rack up travel credits meaning that whenever we DO travel, we can use our credits towards paying off travel-related expenses. It’s all about finding the right rewards card that fits your needs and lifestyle.
So how do you find the right rewards credit card?
Lucky for us, there are so many awesome resources out there that can help us find the right credit card and one of my favorites is CreditCards.com.
CreditCards.com believes in empowering people to use the right cards in the right way, which is exactly what I encourage people to do too.
They’re passionate about helping all of us make smart choices when it comes to credit cards, and they even have a tool called CardMatch that securely matches you with credit card offers in less than a minute without impacting your credit score.
So if you still don’t have a rewards card, head on over to CreditCards.com and start doing some research. Check out all their different rewards cards and compare them! Figure out what perks can bring you the most value, and then use that card responsibly.
Remember, the point of a rewards credit card isn’t to blow away your money. Instead, it’s a way to EARN money on purchases you’d be making regardless.
Now it’s your turn! Tell us how YOU feel about rewards credit cards. Do you have one? Do you like it? And what are some of the best benefits you’ve been able to take advantage of? Let us know in the comments!
I was selected for this opportunity as a member of CLEVER and the content and opinions expressed here are all my own.
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