Best Credit Cards for Millennials
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A recent study by Bankrate found that 67% of millennials don’t have credit cards. It seems like they’re learning from the mistakes of their elders and avoiding costly debt. They’re saving more and spending within their means. That’s great news for the financial outlook of millennials.
However, swearing off credit cards can come back to hurt them in the future. Using credit cards responsibly is a powerful way to build a strong credit score. Without it, millennials who want to buy a car or a home in the future may find themselves struggling to get approved for a low interest rate, regardless of their responsible spending. You have to have a good record of paying back debts, in order to be approved for one.
Besides the importance of building a credit history, there are other reasons millennials should embrace credit cards. Free perks and services could save loads of money and as long as the balance is paid in full each month, millennials can continue to avoid debt but reap the additional benefits credit cards can offer. These are the best credit cards for millennials.
Now Is the Time to Travel (for Free)
Take advantage of travel opportunities before you get married and have kids. The best travel rewards credit cards offer attractive bonuses for new cardholders.
See also: Credit Cards that Offer the Best Sign Up Bonuses
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