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Posted on Monday December 31st, 2018

A credit card can be your all-time borrower without having to pay anything extra if you use it cleverly. Not only you can buy all the expensive items in your wishlist without additional costs but also you can have added benefits for using it in the form of cash back or reward points.
But, you have to look towards the other side of the coin too. If you are not using it in the desired way you can end up with a huge amount of loan over you with a big interest rate. Sometimes the amount gets piled up and it is difficult to repay it back.

You can have a number of “Benefits with a Credit Card” in your pocket. Do you want to know about them? Go through the write-up detailed as follows.

Advantages of Right Use of a Credit Card:

● You don’t have to wait to accomplish your lavish and royal dreams. A zero percent purchase card allows you to buy the desired thing and divide the cost to be paid in several months to reduce the burden on you. There is a set limit of the interest-free period if you complete the payment within the limit you won’t have to pay a single penny extra.
● It is the most secure way to make the payments in comparison to cash, cheque or debit card as you can claim back your money in cash your purchase is not satisfactory. In case there exist the fraudulent use of your card then to your service provider will have to pay back but you have to be sure that there is no negligence from your part. You have numerous advantages and protection under Consumer Credit Act Section 35.
● You get 59 days of the interest-free period if you pay all your instalments within the desired time limit. Though you are liable to high interest if you do not pay your bills on time. The minimum or average rate of interest is 18% so it’s better to clear off the amount before the duration expires.
● You can even earn for spending a certain limit by making use of this charge plate in terms of rewards, loyalty points, cash back, air miles and much more but the condition is the same that your bills must not be pending.
● You even have the option to switch your balance on a new card, if you are paying the 18% interest on the current unit. You can transfer it to 0% and then start fresh with the refunding. 3% charges of issuing will be deducted.

Final Words:
Having a credit card has countless advantages but you have to make sure you maintain a high credit score and clear the dues in the desired time span and follow all the things that allow you to optimise the use of this charge unit or else it can be a big loss to your pocket. Use only if you can stick to the deadlines.