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this post was submitted on 15 Oct 2024
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Asklemmy
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It's only expensive if you don't pay it in full every month. I've had my credit card for years and have paid $0.00 total for it whilst it generates at least 1% cash back or more depending on where used. Not much, but it adds up and makes it beneficial.
I feel like a lot of small shops now (especially restaurants and convenience stores) charge for using a credit card in a manner that wipes out any benefit from “cash back rewards”.
To me the bigger benefit is that a card that is opened many years ago (pair on time) gets you a better credit score. This will net you much better deals throughout life for major purchases like a car or home (if you are lucky enough to still be able to afford one).