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Posted on Friday June 8th, 2018

If you are wise with your spending habits “Credit Cards (CC) offer a surplus benefits” which can be very rewarding for you. Not only it adds cashless facility to your spending but also adds vigor to spend judiciously as per the card benefits and features


Here are some benefits of using credit cards:


  • No need to carry cash: With a CC, the need to carry cash goes away. When you don’t have balance in your bank account, that time a credit card helps you do shopping and entertainment stress-free as you don’t have to worry about carrying cash. This also ensures safety of money.


  • Reward points: CC companies offer reward points for any purchases you make with your card. You can use these reward points to get discounts on shopping, dining and some of the credit cards also give cash back on your fuel spends.


  • Grace Period: Almost all the banks provide maximum of 50 days and minimum 18 days for outstanding payment. Extended due date for bill payment allows customer to settle finance as per announced  date fixed by bank . Grace period help customer to secure repayment on time .


  • Insurance: Most CC automatically comes with an excess of consumer protections such as rental car insurance, travel insurance and product warranties that may exceed the manufacturer’s warranty.


  • Safety: CC are safer than debit cards as in case of fraud you are not out of money immediately. Paying with a credit card makes it easier to avoid losses from fraud.


  • Build a credit history: Cibil history improves with timely payment of CC outstanding . It builds your cibil score and helps you in getting more funds as your credibility enhances with the outstanding payment .


  • Status Symbol : Using a CC adds status symbol to your life and reflects your credibility and earning value . Only certain income group are eligible for the cards hence using a card amongst your peers will leave you a class advanced in financial aspects .