<prompt> Human: I never owned a credit card before. And I am at the point in life where it is essential. My bank is offering a nice credit card with tons of cash back on gas, shopping, dining, etc. But is there any pros and cons for having a credit card with the bank that holds my finances? If I where to go in debt and couldnt afford payments on the card could they just take it out of my savings for me?  <response>: Pro is its easier to pay the card. All you have to do is transfer the payment from your checking to your credit card. Con its likely not the best card, but thats not important for your first credit card. Whats important is creating good habits. 