Credit Card benefits – If you have a credit card, then you must be knowing that credit card is a kind of loan. But if credit card is used properly then it has many benefits. Let us know in detail in the news below (Credit Card using tips) what benefits are available –
Whenever it comes to credit card, you must have often heard people saying that one should stay away from it. People often say that credit cards are a kind of debt trap in which a person gradually gets trapped. Of course, credit card is a type of loan, but if used properly, it has many benefits. Let us know which 7 benefits you get if you use a credit card (Credit Card Benefits).
1- Credit history will be created
Whenever you go for a loan, the bank first looks at your credit history. Credit card is a type of loan. In such a situation, the more you use it, your credit history gets built. Let us tell you that if you have more than one credit card, then your credit history becomes stronger.
2- You will get reward points
The more you shop with your credit card, the more reward points you get. That means even if you had spent with cash, you would have spent the same amount as you did with credit card, but you would not have got reward points. Generally the value of one reward point is 25 paise, but it can be different for different banks. By redeeming these reward points, you can also get money and shopping vouchers. However, whether to give cash or shopping vouchers depends on the credit card company.
3- Extra time is available for payment
On different credit cards, you get 30 days to 45 days to repay the money after the payment is made. Whereas if you had paid by cash, you would have had to pay the money immediately. Even if you had paid online, the money would have been deducted from your account immediately.
4- Earn money in extra days
Due to payment through credit card, you will get additional interest on the money for the same period of 30-45 days. If you want, you can also get short term FD, otherwise you will get interest in savings account also, that is, you will earn money from the money.
5- Take advantage of sale deals
Every day there is some sale going on on e-commerce websites like Flipkart-Amazon. In these sales, there are some discount or cashback offers on purchases made with different credit cards. In such a situation, if you have a credit card with that deal, then you will get the same product at a cheaper price than others. This means that you will save some money in purchasing that product.
6- EMI facility will also be available
If you have a credit card, you will easily get the facility of EMI on shopping. You will even get the facility of No Cost EMI, in which you will not have to pay any interest on EMI. Although now you have started getting EMI on debit cards also, but in deals, no cost EMI facility is available only on credit cards most of the time.
7- Sudden need of money
Even if you suddenly have to make a large payment, a credit card proves to be very useful. Suppose, if you suddenly have a medical emergency, you can make the payment through credit card even if there is no money in the account. You can even recharge Paytm with a credit card, transfer it to your account and withdraw cash. However, to recharge Paytm with credit card, you will have to pay some additional charges.
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