A credit card allows you to purchase something you want even if you do not presently have the funds for it. Thus, credit cards help you by not compromising on your needs if your liquidity situation isn’t great.

Additionally, it is one of the best ways to build and improve one’s credit. Good credit helps you get loans easily at relatively favourable rates.

Another important aspect of getting a credit card is the rewards that come along with it. Most credit cards give its users cash back or travel rewards which range anything from 1-2% of the amount spent by the user.