There have been times when I get into debates on the pros and cons of credit cards. Most of the times, such debates are concluded without any coherent result. However, here I’m not going to put up any argument. I’m just going to put out the facts and let you decide whether using a credit card is the best choice for you.
Benefits of using credit cards
1. Signup Bonuses
All popular credit cards available today offer some sort of welcome bonus for the cardholder. Not just that, some credit card providers even provide you with reward points which you can redeem with shopping and fun activities.
2. Rewards Points
Another benefit of using a credit card is that you get reward points for your spendings on various categories. Reward points can be redeemed while shopping. You can get reward points when you dine out. You can get reward points when you pay for fuel. There are a lot of things that you can do with your credit card and earn reward points for that.
3. Cashbacks
Cashbacks are another interesting way to get the benefit from your credit card. Credit card providers provide up to 10% cashback on certain purchases. This is something that you’ll not want to miss out.
4. Travel points
If you’re a frequent traveller and use aeroplanes as a mode of travel, you can get huge benefits through your credit card. Flyer miles or airline miles are part of a loyalty program offered by airlines and credit card providers. You earn points for flying with certain airlines. These travel points keep collecting and you get something for free with these points.
5. Insurance
Most credit cards offer you a lot of additional benefits such as rental car insurance, travel insurance and more.
6. Easy payments
When you’re travelling in a foreign destination and want to make payments, you may find that not all merchants accept your debit card. On the other hand, when you offer to make the payment using a credit card, they will readily accept it.
Those were some of the major benefits of using a credit card. Last month, I did comprehensive research on the best credit cards in India and got to know about some interesting offers. If you do not already know about the best credit cards in India, you need to do your research and start using some of these credit cards. It is worth it considering all the benefits that come with it.
Conclusion
Credit cards are certainly beneficial to you. But, if you are someone who doesn’t keep a tab on your expenses, you may land in high water and there will nothing much to do about it. Having said that, credit cards can actually save you tons of money when you use it with discipline and planning. It is something that when you start seeing the benefits, you will want to use more of it and use it wisely.
Did you find something valuable from this post? Please let me know your thoughts in the comment section.
