10 Causes to Use Credit score Card | Advantages of Credit score Card
Credit cards have long had a bad rap for your personal finances. There is no denying that they still have many benefits that make them a great financial tool for many people. Provided you can pay your credit card balance monthly. As long as you have the discipline, below are the top 10 reasons to use your credit card.
Top 10 Reasons to Use Your Credit Card
1. Borrow for free
You can borrow cheaper with the right card. Whether you’re building a new creditor or looking to settle existing debts, you can borrow interest-free for over a year with a card that offers 0% on your purchases.
2. Enjoy peace of mind
All credit cards come with free and practical consumer protection. If a purchase does not go through, is not as described, or there is an error, you can receive financial compensation from your credit card provider or local retailer.
3. Get Free Money
You can earn rewards with most cards if you use them in the form of points or money that you can use on anything. Why are you going to be using your debit card or cash to shop when you can make cash or rewards for exactly the same amount of effort?
4. Create a good credit report
A good credit report can help you buy a car or house and give you excellent interest rates on both of them. A bad report will prevent you from getting things that you couldn’t prepay for. Having and using a credit card wisely is the easiest way to keep a credit balance or fix a bad one.
5. Cheap cash overseas
A savvy traveler has a credit card with him as it not only provides additional consumer protection, but it will also help you save money. Using the right card overseas saves you paying commissions and gives you the best possible exchange rate.
6. Protect your money
You will no longer be able to see your money if you lose your money. However, if you are careful with your credit card, you will not have to pay for any post-loss expenses. This is as long as you report the loss immediately and have handled your pin carefully.
7. Free insurance
There are credit cards with free purchase protection within a short time after purchase. This means that if the item you’re fighting for is stolen or lost within the allotted time frame, you can still get your money back.
8. Emergency money
Your credit card gives you instant access to money in an emergency. No need to worry about running out of money when stranded in the middle of nowhere.
9. It is the only accepted payment method
There are companies that insist on using credit cards for payments such as car rentals or hotel reservations. This is because it will give them greater confidence that any additional costs you may incur will be reimbursed.
10. Perfect for online purchases
A credit card can save you money on your online purchases. When you use your card, you don’t have to pay extra and you can enjoy better deals.
These 10 reasons to use your credit card will convince you to get one and use it carefully. Read this helpful article on the five best ways to get a great credit score.