Why should I have a credit card at all? What if I never want to use one?
News from Fox Business:

Years ago, banking executives complained loudly about consumers who carried their credit cards without running up a monthly balance. Then, personal lending flipped itself upside down. Today, many credit card product managers believe they’ll make as much money from transaction charges as they will from late fees and interest payments. That’s changed the dynamic for rewards credit cards and cash back credit cards, designed to entice consumers to float their purchases for 20 or 30 days.

Here’s why I think you should carry at least one rewards credit card:

  • Purchase protection. Cash, checks, and most debit cards won’t help you get your money back when your flight gets cancelled or your new gadget busts. Federal laws and bank policies favor credit card holders in most disputes. Even during a charge-back investigation, it’s the bank’s money on the line, not yours.
  • Credit report impact. Contrary to popular belief, credit scores don’t measure how much debt you’re in. They report how well you manage your accounts. If you don’t have a credit card to maintain, there’s nothing to score. Tha…………… continues on Fox Business

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Related News:

American Express: Number One Credit Card
News from Seeking Alpha:

A recently released survey investigated customer satisfaction of credit card issuers. In this article we’ll examine American Express (AXP). We’ll primarily use the survey to assess the company’s product and potential demand for that product. We’ll cover the industry and we’ll briefly discuss the financials.

Survey

American Express is number one in customer satisfaction, according to a survey conducted by J.D. Power and Associates. The survey included nearly 14,000 customers.

The survey asked customers about their experience with the issuer’s terms, billing and payment process, rewards program, benefits and services, ability to resolve problems and accessibility.

Consumers said American Express did the best job in each of the categories. According to customers, American Express really outperformed other issuers in the areas of communicating with customers and offering attractive rewards.

If consumers are happy with the product they are likely to keep using it. Further, they are likely to recommend it to their friends. The demand prospects for American Express’ service remain so…………… continues on Seeking Alpha

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