Yusra3
VIP Contributor
1. Boost Your Credit Score
If you have a high interest credit card, you can use it to boost your credit score. By making sure that you make your payments on time and keep your balance low, you can improve your credit score. This can help you qualify for better interest rates on loans and other lines of credit in the future.
2. Earn Rewards And Cash Back
Another benefit of using a high interest credit card is that you can earn rewards and cash back on your purchases. Many cards offer points or miles for every dollar spent, which can be redeemed for travel, merchandise, or cash back. Some cards also offer bonus points or miles for spending in certain categories, such as dining or travel. If you pay off your balance in full each month, these rewards can add up quickly and offset the cost of interest.
3. Access To Exclusive Perks
Another perk of having a high interest credit card is that you may have access to exclusive perks, such as airport lounge access, free hotel nights, or concierge service. These perks are usually only available to cardholders who spend a certain amount each year or hold a certain level of membership status with the issuer. But if you frequently travel or entertain clients, these perks can add up quickly and offset the cost of annual fees or interest charges.
If you have a high interest credit card, you can use it to boost your credit score. By making sure that you make your payments on time and keep your balance low, you can improve your credit score. This can help you qualify for better interest rates on loans and other lines of credit in the future.
2. Earn Rewards And Cash Back
Another benefit of using a high interest credit card is that you can earn rewards and cash back on your purchases. Many cards offer points or miles for every dollar spent, which can be redeemed for travel, merchandise, or cash back. Some cards also offer bonus points or miles for spending in certain categories, such as dining or travel. If you pay off your balance in full each month, these rewards can add up quickly and offset the cost of interest.
3. Access To Exclusive Perks
Another perk of having a high interest credit card is that you may have access to exclusive perks, such as airport lounge access, free hotel nights, or concierge service. These perks are usually only available to cardholders who spend a certain amount each year or hold a certain level of membership status with the issuer. But if you frequently travel or entertain clients, these perks can add up quickly and offset the cost of annual fees or interest charges.
