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Tuesday, April 23, 2019

Reasons to Use Your Credit Card More Frequently

Do you hesitate to use your credit card frequently? Or do you have plans to apply for a new credit card but don’t have much idea about the benefits that it would provide. Then, here are some reasons which would encourage you to apply for a credit card and use it frequently.

Interest-free period: One of the most striking features of a credit card is that it offers you an interest-free period of up to 50-55 days on all your purchases with it.

This essentially means that you don’t have to pay any interest amount on the outstanding balance as long as you repay the entire amount by the due date. This facility is not found on other financial tools like debit cards, cheques, etc.

Rewards: Today, almost every major credit card offers an attractive reward points plan that gives you reward points on most of your transactions with the card. The beauty of these credit card reward points is that they can be redeemed for attractive gifts and benefits and even for booking air tickets.

EMI facility: If you want to make big-ticket purchases but don’t have the required budget, the credit card comes to your rescue. You can pay for your desired item using the card and then repay the amount to your credit account in monthly instalments. 

Today, most credit card issuers and retailers also give you the option of no-cost EMI, which means that you do not have to pay any interest amount for availing the EMI facility.

Building credit history: Using a credit card is perhaps the easiest and the most convenient way of building a solid credit history. All you need to do is use the card smartly and pay the bill by the due date.

Even if your credit history has been poor thus far, the credit card can help you in improving it. And no one can deny the importance of having a solid credit history and therefore a high credit score in availing any financial loan in the future.

Safety: You may feel that the credit card is not a safe instrument to carry out financial transactions but you shouldn’t be surprised to know that credit card transactions, in fact, are highly secured. The modern digital security system in these cards grossly cuts down the chances of financial frauds carried out by miscreants.

Additional privileges: If you have a high-end credit card, you must be aware of the premium facilities that it offers to you. For instance, most cards in this category offer the services of a dedicated concierge to manage your travel bookings, entertainment needs, etc.

Premium travel credit cards also give you complimentary and paid access to lounges at domestic and international airports, priority check-in and boarding, special ticket prices, etc.

Special deals and offers: Today, most major retailers, particularly the online stores, launch tempting deals, discounts, and cashback offers on a wide range of product categories. And all these deals and offers can only be availed when you make the payment using a credit card.

Apart from these few benefits, there are a plethora of other features like the balance transfer facility, cash advance facility, etc., that would certainly enhance your experience of using your credit card. Thus, you see that if you use the card smartly and avail all the benefits that it offers, there can be nothing better than your credit card to use for your daily financial needs.

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