Credit cards can be really handy. They provide convenient access to money without having to use cash, and it’s so quick and easy to make a credit card transaction for a purchase. You can use them any time, any place – whether in a shop, online, over the phone or even abroad.

Furthermore, credit cards also provide up to a month’s worth of interest-free spending, so they can be handy for making purchases when you don’t have instant access to the cash you would need to pay for them there and then. You may even find a credit card that provides extended interest-free periods, perhaps even up to a year. However, it’s important to check the terms and conditions in detail before you sign up to establish whether this is really a good deal. Often the interest rate charged by the card issuer after the interest-free period is much higher than average.

You’ll also benefit from added security when you have a credit card, as you’re protected under the Consumer Credit Act. This states that the contract for your transaction is between both the trader and the credit card issuer, so both have equal liability and you can pursue either or both for compensation should there be any problems such as the trader going bust before you receive your purchase or failing to provide the goods or services you paid for. Even if you’ve only used your credit card to pay the deposit for goods or services, you are still covered by the same protection.