You might have come across financial experts who advise strongly against credit card use. We can’t blame them! After all, irresponsible use of a credit card can leave you with a debt that is quite difficult to pay off.
However, there are many reasons why customers love to use credit cards as well. In fact, if you can just learn how to be responsible with this plastic, you will realize that credit card payments work much better as compared to debit cards or use or even cash! Here’s how:
You Get To Make Safer Payments
Perhaps the biggest advantage of choosing a credit card over other conventional means of payment is that it is safer. You can avoid many fraud and losses. Even if the card lands in the wrong hands, you would have the option to freeze your account instantly.
Furthermore, almost all credit cards now come with a $0 fraud liability. This means that you would not be held accountable for unauthorized transactions made via your account. Even if you lose some amount to fraudulent activities, the bank takes full responsibility for the investigation and restoration of lost cash.
Perfect Tools To Build Credit History
You must already know how important good credit history and score is. These two factors not only ensure that you can apply for better cards in the future but also help you get approved for loans with lower interests. Platinumoffer is an excellent mail offer for those struggling with a poor credit score.
Credit cards, when used in the right way, can build your credit history and boost your score fast. Cards report to all three major credit bureaus and help them document your responsible behavior so it showed on your credit report.
They Carry Amazing Rewards System
Perhaps the biggest advantage of owning a credit card is that they offer rewards such as cashback and bonus points.
Discover it credit card in the United States was the first one to introduce the cashback reward system through which it gave 1% back to customers on every purchase. Luckily, now you can choose a range of Capital One cards that offer as much as 3% cashback on a different day to day purchases.
Other than that, you can also win bonus points that can be redeemed in form of cash payments at different associated retailers. Furthermore, some cards offer bonus miles that are most suitable for people who are always on the go. Bonus miles let you travel with reduced prices, book hotels and flights easily, and also enjoy access to airport lounges that might not be otherwise allowed.
You Can Use Credit Cards at Millions of Locations
Have you ever been in a situation where you have to run for currency exchange because you are travelling to a spot that does not accept the cash you have?
Well, credit cards can take care of such issues. Although some of them do charge a foreign transaction fee, you can use them at many locations around the US and abroad as well.
Lastly, They Offer Consumer Protection
Credit cards come with a number of insurance programs. Most cardholders don’t know this but certain credit cards offer rental car insurance, product warranties, travel insurance. Immediate help in travel-related issues, etc.
Now you can see why we adore using credit cards. It all comes down to how responsibly you can manage your expenses so you don’t end up incurring debt. Best of Luck!