Studies show older Americans are the most reluctant to give up using actual hard cash & checks to pay for things. If you’ve been one of those clinging to your old habits, maybe we can give you several profitable reasons to shift to credit card and digital payments.
1.) Digital & credit card payments are actually more secure, not less. Because these service have more to lose from hackers than you do, their encryption is strong, reducing the risk somebody else will get your personal information
2.) Rewards – Many credit card companies offer rewards for using their cards. That can translate into stuff you can purchase using your bonus points. Make sure you’re paying off those cards, though, so interest payments don’t offset what you’re earning in points.
3.) Build your credit – Many Baby Boomers have already paid off their house. Without those regular mortgage payments and with few credit cards payments, you may become what’s known as “unscorable,” which can be a problem should you want to purchase a big ticket item like a new car or an RV. By making your regular monthly payments via credit cards, you continue to establish and build your credit score.
4.) Once you get used to paying digitally, you’ll discover how fast & easy it is – leaving you more time to use your money doing things you like!
