Hey friend,
If you have ever spoken to a banker, they will rave on and on about the wonders of credit cards and how they are changing the spending pattern of Indian citizens. I will share with you what are the benefits of credit card along with a few disadvantages. If you are curious to know more, simply take a gander at the comment section.
Here are a few of the benefits of using credit card :
- Buy on credit: It allows people to purchase items from groceries to clothing on a credit line. The credit limit allowed to a cardholder is decided by the bank itself, You can spend the credit amount and pay it back later.
- Common method of payment: Credit cards are one of the most widely accepted methods of payment around the globe. You can use your credit card nationally and internationally.
- Interest-free cash withdrawals: In case of emergencies, you can withdraw money up to a certain extent. No interest is charged up to 45 to 50 days.
- Reward points : With every credit card transaction, you will get reward points. Few banks offer unlimited rewards points that can be redeemed.
- Insurance coverage:
As a credit cardholder, you will get a personal accident average and comprehensive travel insurance coverage. These are a few of the benefits of having a credit card.
- Make travel easy:
Many credit cardholders get the benefit of experiencing complimentary lounge access at airports and railway stations.
- Discounts and cashback:
You can get discounts on items like movie tickets, online shopping, and health, and wellness outlets if you pay with a credit card.
- Improve your credit score:
If you smartly use your credit card, you can easily boost your CIBIL score. Ultimately, a high CIBIL score will help you get a good loan.
This is all from my end on what are the benefits of the credit card.
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Read more :
How credit card works in India?
What is Finance Charges in HDFC Credit Card?
How to foreclose ICICI credit card EMI?
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Authors Of The Question
What are the benefits of credit card ?
Yuvraj
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1 Answers
2 Year
2022-04-19T08:46:27+00:00 2023-07-05T15:20:42+00:00Comment
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