It’s time to switch from the cash to the plastic money! Credit cards are considered as plastic money provided by many banks and other lenders. A credit card contains a certain amount of credit limit, which you can repay within a scheduled time.
Over a period, credit cards have emerged as one of the handy ways to make payments and keep its records. You can also use your credit card during an emergency and pay for your expenses even when don’t have money in your bank.
If you are a salaried individual and earning a decent salary per month, you should check your credit card eligibility with a lender. This way, even you can get the convenience of having a credit card, and managing your life comfortably.
If you are still unsure about the advantages that a credit card brings to the table, you should go through this post. It will help you know some impending benefits of having a credit card.
- Cash back
Many banks and other lenders hand over the customers with some handsome cashback opportunities. Yes, you can get some cashback if you use your credit card to pay some utility or grocery bills. What’s more, even leading eCommerce portals also let you pocket some cashback on paying for some products via the credit cards.
- Reward points
Credit card issuing companies also offer some reward points for all purchases made via your credit cards. Example – for every Rs.100 spent on your credit card, you may pocket 1 reward points. Thus, the more you purchase, the higher will be your reward points. You can always redeem these points to purchase gifts. The gift options are available on the company’s rewards page.
- Enjoy the convenience of the EMIs
Are you making a big-ticket purchase such as TVs, laptop, or refrigerator and other costly products? You can convert purchased amount into affordable EMIs. Therefore, you can relax and pay a fixed EMI amount and don’t hurt the monthly outlays. However, banks also charge interest for EMIs conversion on the credit card.
- Grace period
One of the significant advantages of having a credit card is that you can easily defer the payments till your final due date. Banks and other leading lenders usually offer a maximum 50-day grace period for paying your dues without stress.
Compared to debit cards, credit cards are safe. It is because you are not out of your money in case of fraud. Leading payment gateways including MasterCard and Visa also have additional password protection facility. They deliver double the layer of protection while transacting online.
You are now well-versed with some of the immediate advantages that a credit card usage can give you. Nowadays, the number of salaried individuals opting for a credit card has gone up. It is because it gives them a lot of financial independence.
If you have the required credit card eligibility, you can easily apply for credit card.
Companies offers some pre-approved offers on credit cards, personal loans, and home loans and more. You can check out your pre-approved offers by sharing a few basic details like name, age and mobile number.