How To Make Credit Cards Work For You Credit card companies want your loyalty and provide money saving benefits and luxury perks in exchange. When responsibly managed, credit cards are the fastest and simplest way to build a credit history, while also taking advantage of its perks. Not only can you use the card to make purchases when you don’t have cash on hand, you can also use the card for cash advances. With credit cards, you are billed monthly for your purchases and advances with a pre-determined interest rate that often (but not always) correlates with your credit score. The interest rate, often interchangeably known as the APR (Average Percentage Rate), describes how much interest you’ll pay over a year, if you keep a balance. According to WalletHub’s Landscape Report, the average credit card interest rate is 17.87%. Credit cards can be used to your advantage and upgrade your life in various ways. Credit card companies are working hard to ensure your loyalty with different programs that will either give you perks, cash back features, 0% APR for a specific period of time and more.