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Benefit Analysis

Before you decide to apply for a credit card or accept an offer, you should consider the benefits versus the negatives. With any card there will be negative aspects, that is not what is crucial here. Based on what you have learned, we need to explore if credit is the best option.

Pros and Con lists are often very helpful if you have an open mind. However, often they can be one-sided and not the most helpful tool. If you decide to use them, try asking a close friend who knows you well to help. You can also take your time and think a few days about the list and make changes during this time.

Other options are important to look at. Debit cards offer an easy access to your bank account. Think of them like a check but without the paper, just a plastic card. They are not a form of revolving credit! Whatever you take out is immediately removed from your account. If you just want to buy a few large items ever now and then a credit card might be helpful. Cash is an option but unlike debit, it is clumsy and you have no security if lost or stolen once in your possession. Cash does work well for small purchases but does not help you to build credit history.

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