Debunking credit card myths

Worried about applying for a credit card because you’ve heard bad things? We separate fact from fiction below. If you spend responsibly, you have nothing to worry about…Credit can be a lifeline when you need it most. If you do your homework, spend wisely and pay your monthly installments on time, applying for a credit card is a wise choice.

We debunk three credit card myths below.

MYTH: HAVING A CREDIT CARD WILL LEAD TO UNMANAGEABLE DEBT

TRUTH: If you overspend and don’t pay your installments on time, yes. But, a credit card can be a blessing in disguise when you need funds for an emergency, or have to make a big purchase, like a new fridge, unexpectedly. Spend responsibly and you’re good to go.

THE INTEREST WILL RADICALLY INCREASE THE PRICE OF YOUR PURCHASE

TRUTH: Many credit card providers give you up to 55 days interest-free. Additionally, if you pay off the whole amount owed before the due date on your statement, you pay zero interest.

CREDIT CARDS ARE BAD FOR YOUR CREDIT SCORE

TRUTH: On the contrary! If you show that you are a responsible and financially-savvy individual, paying on time with no deferrals, you will maintain a good credit rating. This can come in handy when you need to apply for car finance or a home loan.

APPLY FOR AN RCS STORE CARD

Taking all this into consideration, you can apply for a RCS Store Card today and enjoy the freedom to shop in our Shopping Network.

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