Credit cards have become one of the most important aspects of plastic money which are being extensively used by many people in India. Having a credit card in your wallet lures you to live a king size life, isn’t it? If used cautiously they are the perfect tools for making payments for online shopping or dining in any restaurant. Credit cards offer you numerous benefits which can satisfy the customer in you. It gives you the freedom to shop till you drop, even when you don’t have cash in hand.
Reasons to get a Credit Card
Let’s explore what are the basic reasons which make getting a credit card an absolute necessity in today’s times. Here we have managed to put forward seven such points which will remove the scales of uncertainty from your minds and hopefully will guide you towards empowerment in this plastic economy.
Lays Foundation to a strong credit history
It is very important for you to have a good CIBIL Score if you’re planning to secure a loan from bank for any purpose. Credit Information Bureau India Limited maintains a credit score of yours every time you make some payment. If you have the good habit of paying all your dues on time then you are bound to get a loan from the bank without much hassle.
Your side-kick in case of any emergency
An emergency can knock your door anytime without giving any signs, isn’t it? We have the tendency to keep cash in hand only when we believe we need it at a point of time. But what if you don’t have enough cash during an emergency at home and you need to book a flight ticket for the same? This situation will clearly prove why credit cards so good. Credit cards allow you to make instant payments and you can book whichever tickets you want. You won’t even need to stand in front of the ATM to withdraw money.
Eye-popping discounts, cashbacks and rewards
Mama mia! Just a single thought of attractive benefits like cashbacks, discounts and other rewards appeases the buyer in you, right? You get reward point on every particular amount of purchase you make. At the same time, you get various cash backs as well as air miles, travel discounts, gift cards and what not. This makes you shout at the top of your voice that credit cards are simply so good.
Extremely convenient to use
Are you a person who doesn’t like to carry cash in his wallet? If yes then credit cards are just tailor made for you buddy. Suppose you are travelling to England and you don’t want to carry a huge amount of money. You should not even worry once since credit card will take care of your expenses. Even if you are travelling in India, you won’t have to care about searching for an ATM.
It gives you free credit for a certain time period
Credit cards come with an exciting feature of their own. You get a free credit period where you are not required to pay any kind of interest on the purchases you made for a particular period of time. Isn’t it like a cherry on the cake? Credit card companies in India grant you a credit free period of 50 days which means you have a grace period of 50 days to pay the bill without any interest. This is very fruitful when you are making any kind of big purchase.
Keeping a track of your accounts
A credit card is going to help you to keep a track record of all the purchases you have made this year. This will save your time and efforts since you don’t have to write down every purchase you make via cash. The credit card statement will give a detailed summary of all your transactions which can help you in making budget for the upcoming year. Now you can easily check if you are spending too much on Barista’s coffee or not.
The add-on benefit of worldwide acceptance
It doesn’t matter if you are in Australia or USA your credit card is going to be accepted all across the world. You can breathe a sigh of relief because you don’t have to concern about changing the Indian currency to American dollars. Some credit cards even protect you from any kind of Forex rate fluctuation and offer you easy foreign exchange.
There is no dearth of reasons to get a credit card. But, they are meant to be used wisely and judiciously. Remember if you don’t handle your credit card in a disciplined way, then it can become the worst nightmare for you. Never let your relationship with your credit card go bitter.