If you’ve found yourself with bad credit, you may be wary to expose yourself to potential debt again, even just by carrying a credit card around. This is an understandable worry, considering up to one-third of the population is currently experiencing debt troubles. However, you shouldn’t let this fear keep you from making use of these great tools. Here are three good reasons for you to consider keeping credit cards for bad credit Canada in your wallet even before you achieve a good credit standing again.
Cover and Document Emergency Expenses
The biggest benefit of keeping credit on hand is always the convenience factor. Credit cards for bad credit Canada help ensure that you always have quick access to credit in case of an emergency. Whether you need a few extra groceries one week or your pet cat gets sick and needs some medicine, a credit card will be able to cover most sudden expenses you’ll run into. Even if you’re using a secured card (meaning you would usually be able to access the money anyway), running these emergency transactions through credit instead of debit or cash exchanges allows you to keep things secure and gives you a way of potentially disputing charges later on if you need to. At a time when you may be struggling with money, this is a very important consideration for your peace of mind.
Access Online Shopping
Who doesn’t at least occasionally browse for products online nowadays? During your online shopping, you may find goods that are:
- Sold for less than in local stores
- Exclusive to different parts of the world
- Handmade by artisan sellers
- Old or otherwise hard to find
However, you often won’t be able to purchase any of them without a credit card – even large established companies like Amazon deal almost exclusively in credit transactions rather than debit ones because it is much easier to keep them secure. Credit cards for bad credit work like any other card in this capacity, so you’ll be able to access any kind of e-commerce you want even while you wait to rebuild your credit score. This can help to provide a significant boost to your quality of life in these trying circumstances.
Help Smooth Over Cash Flow Problems
Many people with bad credit also live with cash flow insecurity, meaning that they may have trouble predicting when their money will be coming in. This is a common issue for people who are self-employed, work mostly on commission, depend heavily on child support or other transfer payments, and who have other non-traditional income streams. Since fewer and fewer Canadians have a steady full-time job these days, it’s often helpful for people to use a credit card to cover their expenses over the course of a month and pay off the balance when they have accumulated enough funds to cover it. Since credit cards for bad credit often carry high interest rates, you should be careful when doing this in this particular case. As long as you’re reasonably confident that you will have the money by the end of each month, though, you should be able to enjoy this convenient solution at minimal cost to you.
Get Credit Cards for Bad Credit Canada Without Fear
There’s no need to go without the financial freedoms that credit cards bring just because your credit has dipped a little low. You can reap all these benefits while also starting to rebuild your credit, and there’s no need to worry about getting trapped in debt. Let Bonsai Finance help you find a variety of options for credit cards for bad credit Canada and start living your financial life the way you used to again.