Often referred to as the next generation money, credit cards have become an integral part of our lifestyle. Where there are some people who depend on their credit cards for practically everything, there are still some folks out who have taken the adage of Warren Buffet – Say No to Credit, too close to their hearts. We accept that living your life on credit is not ideal and comes with a certain degree of risk but what about the numerous advantages of those plastic cards? Here are a list of advantages of using credit cards which can help you save some precious bucks.
- Attractive Reward Points: Now let’s take an example here. You go to shopping every week by paying cash and that’s that. You are getting nothing in return of using cash. Now if you are going to shop same place but paying through a credit card, it will add up and every time you use the card, you will get points which will keep adding up until they get so huge that you will actually be getting cash for using them! That’s the beauty of using credit cards. Find out which credit cards offer greatest reward points and discounts and get some steal deals for shopping!
- Get Cash Back: Almost all credit cards offer a certain percentage of cash back which you can avail while you are using your credit card at retail stores, restaurants, malls or even the supermarket. Now what better way to shop which also gives you your cash back while purchasing your favorite goods?
- Win Free Flying Miles: Those of you who are flying frequently due to business meetings or job assignments, next time book your ticket with your credit card. What’s the advantage you ask? Many credit cards offer free flyer miles which is just like getting reward points. When you collect certain points on your flyer credit card, you get free tickets and no travel charges.
- A Loan without Interest: That’s right, look at the credit card like the convenience of getting a loan without any collateral or any interest. Various credit cards come with an interest free payment period which allows you to repay the amount without any addition of any charges, just make sure that your card is one of them. It shall be noted that the repayment must be done on time or there goes your interest free loan.
- Life Saver in Emergencies: How many times you found yourself in dire need of cash and had to call a friend? Credit cards make sure that does never happen again. The biggest and most useful benefit of a credit card is you have access to funds 24×7. No matter where you are just pull out the magic card and feel the magic of independence!
- Protection against Frauds and Miscreants: Cash can be stolen or mishandled but not the credit cards. If you find out that a purchase has gone sour and retailer cheated you or the bought item is faulty, your credit card provider bank will reimburse the whole amount. Various credit card providers allow the card holders to claim the cash refund on their gone-bad purchases. Likewise, if your card is stolen it can also be reimbursed given the fact that you prove it was not due to your negligence.
- No Need to Lug the Cash Bundles Around: Credit cards are like a walking ATM which enables you to draw cash anytime anywhere. You do not need to carry traveler’s cheque while going to another country neither you have to carry heavy cash around for big transactions. It decreases the risk of getting mugged for cash also when you are travelling to the unknown parts around.
- Special Offers at Restaurants, Lounges, Spas and Retail Stores: Find out about the specials deals and discounts your card is offering i.e. various credit cards offer complimentary entry to world class lounges and clubs while some offer great discounts if shopping at selective malls. You do not need to go in an exile of no-shopping, Infact you can get some pretty deals by using your credit cards.
- Convenience for Family with the Supplementary Cards: Almost all the banks are offering supplementary cards with credit cards for the family members of the card holder. This allows your family and loved ones a financial assistance in case you are not around. Now you will say, same could be done with cash or a debit card but that’s not wholly true. A debit card does not come with surplus funds to help in an emergency and emergencies are sudden.