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Credit cards are one of those modern conveniences that we seemingly cannot do without in this day and age. Everywhere you go more and more people are whipping out the plastic to pay for their purchases, when once upon a time they would have laid out a pile of cash. Credit cards are convenient, indispensable and impossible to live without…or are they?

While it is true that credit cards offer consumers numerous advantages over cash and checks, they have a number of disadvantages as well. Of course a lot of it depends on the particular user, but even in the best-case scenario with the best of intentions, credit cards can be more trouble than they are worth.

One of the more obvious advantages of credit cards is that they allow you to purchase products and services in a pinch even if you do not have enough cash–or any at all, for that matter–with you. Let’s say you have a medical emergency or your car breaks down, and you have no way of getting to a nearby ATM. Without a credit card at hand, you will be totally out of luck and will have to either depend on the kindness of strangers to get you through this emergency or possibly rely on your bargaining skills…and let’s face it: without cash or a credit card at hand, you don’t really have much you can bargain with.

On the other hand, having a credit card with you at all times also means that if you come across something that you want, but do not necessarily need, you are more likely to fall victim to what is commonly called impulse buying. Far too many people whip out the plastic too quickly on the spur of the moment when faced with something that they “must absolutely” have, and it is this situation that has forced so many people into credit card debt land. Another benefit that credit cards can give you is offering you protection against theft of your cash. Of course there are unfortunately such criminal elements as credit card thieves, but there are ways that you can prevent the use of your credit card once it has left your possession. In any case it is still much harder for a thief to benefit from a stolen credit card than from ready cash.

A further advantage to credit cards, and one that can have a lasting effect on your financial future, is that using a credit card responsibly–that is to say paying your bills on time and avoiding building up too much interest–can actually build up a good credit history. This will come in useful later on when you want to purchase a car or a house for example. If you can show a lending institution that you are able to manage your credit cards effectively, they will be more willing to grant you a loan.