With all the flak they get, you might want to ditch your credit cards for good.

Here’s why that’s not the best idea:

First, credit cards can boost your credit score. You’ll need a credit history and a respectable credit score to qualify for any major loan. If you don’t have any open credit cards, it’s going to be difficult for you to land a favorable loan term.

Second, there are rewards and benefits. Many credit cards offer airline miles and points that are redeemable for merchandise or other rewards. If you play your cards right, you can have your credit card company foot the bill for an entire vacation!

And finally, your cards have purchase protection. Lots of credit card companies offer theft and loss protection for purchases that are made on your card.

Of course, credit cards must be used responsibly: Always pay your bill on time, don’t spend more than you can afford. And don’t sign up for a card that has a high annual fee.

The gifts and rewards may be worth less than a better interest rate–which is why your credit union’s credit card is usually your best bet.  A Mutual Credit Union Credit Card offers you – our member – advantages. For details CLICK HERE. 

Federally Insured by NCUA.