Some households lack enough emergency funds to cover unexpected expenses. Having credit available during times of financial emergencies can be very important.
Credit is a convenience. Credit cards can eliminate the need for carrying large sums of cash or writing numerous checks. In many locations and stores, a credit card is accepted more readily than a personal check.
Using the product while paying for it is another advantage. Some people prefer making payments while enjoying a purchase, rather than setting aside money for future purchases.
Credit allows consumers to take advantage of seasonal sales or to avoid anticipated price increases.
Some interest and finance charges can be claimed as deductions on federal income taxes.