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Why You Should Own a Credit Card: Credit Card Benefits & Advantages

As our channels for purchasing items have grown, so have our modes of payment. Credit cards were first considered a novelty, but over the years, have evolved into an essential product which can be used for making a range of purchases.

Credit Cards

With a credit card, you can make your regular everyday purchases as well as buy expensive household appliances, such as a television or a refrigerator, for which you may not immediately be able to gather the funds. 

A credit card essentially offers you the credit to be able to purchase products at ease without having to dip into the funds in your bank account. 

Credit Card Benefits

There are several benefits that you can avail with a credit card. Read on to learn about the most important credit card benefits

 

  • Earn Rewards:
    Many credit cards offer customers the chance to earn rewards by using the card. These reward points can then be accumulated and used for a variety of premium or luxury items, as well as travel.
  • Build Credit:
    Your credit score needs to remain high in order for you to be able to avail financial credit, including loans. Your credit score is derived through the responsibility you demonstrate financially, including in terms of how quickly you repay your credit card bills. Availing a credit card and ensuring timely payments will allow you to increase your credit score while not doing so can affect your chances of getting financial credit in the future.
  • Handle Emergencies Comfortably:
    Emergencies can crop up when we least expect them to, and it is not always possible to be prepared with them. However, with a credit card, you can easily meet these emergencies financially.

 

Credit Card Advantages

Aside from the benefits mentioned above, there are several other advantages you can avail by choosing a credit card instead of other payment methods. Read on to learn more about these:

  1. Credit card net banking allows you to complete payment processes quicker and save your details in a secure and hassle-free manner.
  2. By maintaining and using a credit card, you will receive a regular statement that will enable you to keep an eye on your credit score at all times. If you notice your credit score dropping below an optimal limit, you can also take measures quickly to improve it.
  3. Using a credit card to make foreign transactions allows you to skip on paying the fees levied on such transactions.
  4. With a credit card, your purchasing power increases tremendously. Not only can you use the card to make payments, but certain cards also offer you the ability to turn your purchases into EMIs, which then let you pay over a period of time.
  5. You can easily hold bookings on hotel rooms and rental cars through a credit card.

Apply for a credit card today from Finserv MARKETS, and avail the best discounts for all your purchases. Additionally, you can avail personal loans against your credit card, convert purchases into EMIs payable over a flexible repayment tenure, and even withdraw cash without drawing any interest. 

 

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