In this article we are going to tell you that why do you need a Credit Card? : A card with a 16 digit number, not only allows you to shop easily and efficiently but provide you some other benefits too. Today, almost everyone have at least one credit card in their pocket or purses. Credit cards have made our transactions and purchases quite easier by providing numerous numbers to facilities. Whether it is booking a hotel, purchasing a car or a brand new mobile for you, from paying your electricity bill to renting a car, a credit card manages to do all of this easily and more conveniently. Today, almost every bank provides you with a credit card. All you need to do is just go to the bank and get you credit card services open to enjoy all amazing discounts and facilities.
Since there a lot of benefits of owning a credit card, we have managed to find at least 10 major reasons that why one needs to have credit card.
10 Reasons why you need a credit card
Listed below are some major reasons that why do we need to have credit card.
1. Flexibility in shopping
No need to worry about cash when you already own a credit card. You can buy whatever you like when you have credit card with you even when you do not carry your cash. Your credit card allows you to purchase anything online or offline even you are short of money. But make sure you pay that later. You have easy access to do the purchasing even in the emergency.
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2. Need not to carry cash
One of the best benefits of having a credit card is that you need not to carry cash with yourself. This is really good for the people who does not like carrying large amount of cash with themselves. Need not to worry about losing your cash or getting stolen. Also, you can have a check on the restaurants whenever you want even when you do not carry much cash wit yourself. And yes, you may get discounts too. Nowadays, many retailers and shop keepers accept credit cards and make it easier for the customers to pay more efficiently. Credit cards are accepted throughout the world that makes your purchases easier.
3. You get fancy rewards
Who does not like discounts and rewards? Yes, Credit cards also provide us with some handsome discounts and rewards. There are many brands and websites that provide you with some really good rewards for you do your transaction through your credit card. You can also earn some points on your particular purchase which can be used in your next transactions. For example, you purchase a dress from Amazon or any other online sites; you get 5% off in your overall transaction.
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4. You can pay through EMI
No need to think twice before purchasing something of big about. You can get it through EMI’s. This factor is quite beneficial when you can’t spent such big amount in on go. EMI’s allows allow you to pay the amount in parts. For example, if you want to purchase a car that costs Rs. 10,000, you can get it from EMI through which you can pay the amount within months or year as per the interest rate. You need not to pay the whole amount at once.
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5. Attractive Cash-back facility
Since almost everybody uses online payment services nowadays that provide us some cash backs on each purchase. Likewise, if you do your transaction through your credit card, you can get cash back on every penny you spent. Just say you want to purchase pair of shoes of yourself, if you d the transaction from your credit card, you may get some percentage of the total bill as cash back. That amount will be collected in your application wallet or in your original account that you can redeem in your next purchase. Isn’t a great way to spend and earn at the same time?
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6. You can also buy now and pay later
When you start your credit card services, you are provided with some other benefits too. The back usually provide you a grace period in which you can buy anything you want, maybe a car or refrigerator and you will not be charged any interest for that that particular purchase. This grace period is valid up to 1-2 month as pr bank’s guidelines.
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7. Insurance facilities
Yes, credit cards also come with some insurance credit facilities. If you get your credit card stole, you can just inform the bank and they will freeze your old card and even provide you with a new one. The four major type of credit insurance that your credit card provides are,
- Credit life insurance
- Credit disability insurance
- Credit involuntary unemployment insurance
- Credit property insurance
Credit card insurance facility helps the person when any miss happening occurs.
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8. More Convenient then debit cards
Most of the companies and other online purchasing services do not accept the debit card transaction. Credit cards are universally accepted so you can purchase whatever you want from any part of the world. When you want to purchase something, debit card directly deducts the amount from your bank account where as credit card allows the customer to borrow money from the card issuer. Credit cards also provide you better insurance and warranty services than the debit card. Credit card gives you better cash backs, travel points, rewards and discounts which are actually less in case of debit card. Credit card also gives you credit score when you make regular payments which is unavailable in debit card.
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9. Travel benefit
Yes, there is an additional travel benefit of credit card. When you use you credit card abroad for any purchase, you need not to pay any transaction, also you will get best possible exchange rate at that time. Also, all your purchases are protected under section 75 consumer credit acts 19791 so, you need not to worry about steeling of you belonging that you have purchased though the credit card in abroad.
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10. Maintain credit report
A credit report consists of all the records and list of all the payments and transaction you have made. Marinating a good credit report is quite essential and even it should be at your priority list. If you have a good credit report, you get the benefit of taking a loan for a house or whatever you want to purchase. So, by now you know that why you should have a credit card. There are numerous benefits of having a credit card in your pocket. To enjoy easy purchasing facility, one should always carry at least one credit card with themselves.
Credit card is really beneficial for those who do not like to carry cash everywhere along with them. Also, credit card makes it easier to pay all your electricity, water bills. You can also track all your transactions and you can keep a record on your monthly or yearly expenditure. Transaction from credit card is comparatively easier than cash or check. It is quick and convenient. You can use your credit card in the case of emergency when you do not have cash in hand. You are also provided with quick replacement services in case you get your card stolen. There are many more benefit of having a credit card. So just have a credit card and make your life much easier.