Having a credit card definitely has its own set of pros and cons. It's a matter of weighing out which is better that one decides to have a credit card. A few advantages that one can have out of a credit card is that you can pay for things through credit and pay the total amount at a later date. To families living from paycheck after paycheck, this might be a godsend since it'll most likely allow them to live a bit more comfortably.

Such is the blessing of having a credit card, but it's important that you don't get carried away because one must know his or her limits. A godsend at one month might be a nightmare the next when you don't keep a close eye on your expenses. Whether people have hated or loved credit cards, one thing is for sure – they are definitely here to stay whether we want them or not.

1. You can regulate the amount of bills to pay every month.

Having only one credit card is an advantage. You must not rely on a credit card as your sole source of paying for your meals to the clothes you wear. Thinking of a credit card as such is absolutely the wrong thing to do. Credit cards should be more on the line of a lifeline instead of an actual source of payments. If you're not careful enough, interest rates are surely going to put a chokehold on you and on your finances.

If you're not careful, at least it's a good thing that credit card have limits on them that are proportional to the amount of income you take in. Sticking to one credit card means that you can worry less about what payments to keep up with month after month. Before your bills get out of control, take careful steps into making sure that they don't.

2. Avoid being tempted to spend beyond your pay grade.

You know how it is with credit cards, swipe and swipe. You wouldn't necessarily feel the pain immediately of parting ways with your money since no exchange of hands has taken place until the end of the month when it's time for the dreaded messenger to deliver you that credit card bill that you wish would never come. Maxing out one credit card wouldn't be so bad. But if you have several credit cards and most of them are practically maxed out, you're about to have the worst payment months of your life. Working your way out of debt is really hard when you splurge your salary and savings away without you even knowing it.

3. Sticking to one credit card means that you are more eligible for loyalty rewards.

You don't necessarily have to hop from one credit card to another, what's the matter with sticking it out with just one credit provider all throughout? The rewards that you may acquire for being such a loyal and religious person who pays their bills on time might actually pay off after a while. You might win for yourself some things like iPods or even laptops if your credit provider allows it.