by Cody Hodge

Created on: August 27, 2009

There might be a credit crunch going on, and there might not seem like there is a lot of good news regarding people and their credit cards. Take heart though, there are good reasons why you should still carry that credit card around with you. There is plenty that you can still do with your credit card, and there are still advantages to having a credit card. Not everyone is being denied credit in these tough times.

The best thing you can actually do for your credit is to make sure you have more than one credit account. According to the new FICO model of scoring, the more accounts you have, the more worthy you must be to have a credit card. In that way you can actually increase your credit score simply by applying for a card, and being accepted.

Credit cards really help out in an emergency, or can help you out when you are trying to make a long term purchase. If you have access to a credit line, more specifically a credit card, you can get the money up front, and then you can make the payments later. It is an easier way, and an obvious advantage to using your credit card these days.

Using your credit card also helps your credit score up. If you don't use your credit, why would a credit card company give you another line of credit? It isn't worth the time for the credit card company, and obviously it wouldn't be good for yourself either. There would be no reason for most forms of credit to be available to you if you don't use your credit card that often.

Your credit card is a good lifeline for you to have, and that is why you should carry it with you. If you have your credit card, and you suddenly realize that you don't have any cash on you, you can use your credit card. It isn't free money, but you get to save your cash for a later date. If you aren't one to use your card much it won't be hard to repay later, so it might benefit you right now.

Credit is still a valuable resource for you to have. If you don't have a credit card, you should get one, and start to establish your credit worthiness. A credit history is valuable, and you can't have one if you never use your credit card.

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