Credit Card Benefits
Credit Card Benefits Here are six top credit card benefits to look out for. 1. Easy mode of payment It can be a hassle to carry a lot of cash while traveling. Now that cards are accepted everywhere, it has become an easy and secure alternative to using money. Credit cards can even be linked to an e-wallet on your mobile phone so you don't have to carry it in your pocket. 2. Purchasing power With credit cards, you can usually buy more than you can afford. It has a fixed credit limit on which you can spend money.
Eligibility
This gives you the ability to make large purchases such as electronics, two-wheelers, health insurance, vacation bookings, etc., and don't worry about running out of cash. 3. Credit Score A credit card helps you build a good credit score. Credit scores like CIBIL scores, CRIF high marks, expertise, and equity depend on how well you deal with payments. When you use a card for a transaction, you owe a debt to the company. This will help increase your score. A good credit score means you will be able to get approval for easy loans and credit cards in the future. If you use a debit card, cash, or check you will not get this benefit. 4. Rewards Points Credit card companies offer a variety of rewards on credit card transactions.
interest-free
These reward points can be used to receive gifts, vouchers, flight bookings, etc. Different banks have different reward schemes that can be offered. High tech gadgets etc. 5. Interest-Free Credit Cards offer an interest-free period on your purchases. This means that if you pay before the due date, you don't have to pay any interest on your expenses. If you fail to pay before the due date, then an interest rate of 10-15% will be charged. 6. Tracking Trading Every transaction you make using a credit card is recorded in your monthly credit card statement. Use it to track your expenses and spending. Can be used to create a budget for yourself.