The beginning of a new year is one of the best times to review your finances. This includes deciding for or against using a credit card.

Let’s get the biggest downside out of the way: the potential to overspend and find yourself racking up debt that you can’t manage. There’s no way around this. If you don’t feel that you can spend responsibly, do yourself a favor and stay away from credit cards for the time being.

Now, here are some of the reasons why people choose to use credit cards:

Building credit: Using a credit card responsibly can help you build a good credit score, which can be important when you need to borrow money in the future, such as for a mortgage or car loan.
Convenience: Credit cards are accepted by a wide range of merchants and can be used for online purchases. They are also easier to carry around than cash.
Rewards: Many credit cards offer rewards programs that allow you to earn points, cash back, or other perks for using the card.
Security: Credit cards offer protection against fraud and unauthorized charges. If your card is lost or stolen, you can report it and have a new one issued.
Emergency fund: Having a credit card can be a useful backup plan in case of an unexpected expense or emergency.

Tip: just because you qualify for a credit card doesn’t mean that you have to use one. There is nothing wrong with maintaining a cash system if that’s what you’re most comfortable with. It’s better to stay the course than it is to take a risk with your finances.

Now, if you’re ready to proceed with using a credit card, it’s time to make sure you have access to the right offer. Here are some questions to answer as you begin your search for a credit card:

What is your credit score? What does your credit report look like?
Are you only interested in a particular type of credit card, such as a cash back or rewards card?
Does your current bank issue credit cards?
Have you read expert and consumer reviews of the offers you’re most interested in?
What are the top three to five details on your must-have list?

The answers to these questions will move you closer to applying for a credit card that you can responsibly use in 2023 and beyond.