Do I need credit cards?

Do I need credit cards?

Mitchell Freedman, CPA/PFS (CEO, MFAC Financial Advisors) gives expert video advice on: How should I choose a credit card? and more...

An individual needs to determine whether or not they need a credit card. In my opinion, in today's complex world, everyone should have at least one credit card, if for no other reason than that having a credit card helps them build a credit history. Today, when you want to buy a house or buy a car, or buy a large-ticket item that might require you to borrow money from somewhere, your credit score is going to be checked, and your credit record is going to be checked. If you don't have a credit card, you're not going to have a credit history. And in today's complex world, I think it's essential for people to have a credit history.