Yes and No.

Yes, if you save the money in a savings account with your bank and leave it there and of course accumulate large amounts.
If you ask your bank for a credit card…. they won't have much problems giving you one because they already know your financial habits and can see that you are financially secure.

No…. if you apply for a card with other companies because they strictly go by your credit report and what you save in a savings account is not reported to the credit bureaus.Your credit history will determine whether you qualify for a credit card. To look for the best credit card for you, go to www.bankrate.com. It is a good site with information about different cards, fees, rates, etc.

I like credit cards better than debit cards because they have more protections for the cardholder than do debit cards. You have more ability to dispute a charge with a credit card, you may have a grace period before you have to pay, and you can pay over time (not all are necessarily good things). But saving money is good all on its own.

 

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