With so many people doing their shopping online and all of those times when you want something and don't have any cash in your wallet, it might seem that life today is almost impossible without having a credit card. They are definitely useful when you're buying everything from groceries to outdoor cushions Toronto stores are offering all in one day or when you want to purchase something a few days before your next pay check is due to arrive. But, that doesn't mean that having a credit card is something that is a smart decision for everyone. Here are some of the pros and cons of this little piece of plastic.

There are some things that people want to get today that are just easier to obtain if you have a credit card. If you're someone who looks for everything from metal art to clothing online then you might not be able to do all of this shopping with just your debit card. There are some things, like renting a car or booking a hotel room, where they are going to want a credit card number on file. Look at the sort of things you buy and see if it would be a whole lot easier to pay your bills for cell phone tracking services or for booking concert tickets if you had a credit card to use.

If you're at a point in your life where you're starting to think about your future than buying a home or a car might be a part of that plan. This means that you're going to want to start building up a good credit rating for when it's time to look at homes with deck plans and apply for a mortgage or other loan. The way that you build up your credit score is by having a consistent stream of bills that you have paid on time and in full. With a credit card you can get a monthly bill that will be tracked and go towards your credit score. But, you should remember that this is only a good thing if you're able to pay off your bill each month. This might not be the best option for someone who is not all that responsible with their spending habits quite yet.

There are many credit cards that are available today that come with rewards. You can get cash back on all of your purchases or could get points towards making your next vacation to a Toronto bed & breakfast a little bit cheaper. Credit cards can also be an asset if there is an emergency when you need to pay for something right away without any hassle. You could need to grab a cab and don't have time to get cash or could need an extra night in a hotel while you're out of town. The downside of a credit card is that you need to closely regulate everything that you are buying or you might get a shock at the end of the month when the bill arrives.