The advantages of credit cards are universally appreciated. With the introduction of digital platforms, the advantages of credit cards have become more prominent.
If you are yet to apply for the card, you can visit the bank website and apply for one to get an instant credit card online. Before you apply you must know the perks of having one with you. Here’s why you need to have a credit card –
Access to Credit –
With a credit card, you can buy or pay anything on credit at any time. This will help to get over your burden of heavy investments, and you can pay the amount in EMI later.
Building a credit score –
The credit score is the most important advantage that a credit card offers. This score gets better with your repayment of loans on time, and if you have a better credit score, you can enjoy many advantages with your credit card.
Credit card safety –
Credit cards are safe to use, and they are less unlikely to be victims of fraud cases. Suppose someone uses a credit card without your knowledge. In that case, you will get an immediate message, and if it’s stolen, you immediately stop further transactions from the card by informing the bank.
To earn rewards and cashback –
A credit card allows you to earn rewards and credit points which will give you further discounts in future. You earn points through all kinds of payments, from hotel booking to buying movie tickets. Lenders also provide discounts and offer to credit card users on flight tickets, travel packages etc.
EMI Facility –
Availing EMI becomes easier with a credit card. They provide the option to pay anything on EMI. It reduces unnecessary paperwork for the purchase and helps to be approved instantly.
Universally Accepted –
The credit cards are accepted everywhere under the sun. You can make any kind of purchase through a credit card at any time. This means you will never have to wait till your salary is credited before you book your flight tickets or buy a refrigerator for your house. Many times foreign merchants do not accept debit cards. So, with a credit card, you never have to worry about any payment.
Record of expenses –
The credit card helps you to maintain a record of your expenses every month. The record can be used to keep track of your purchases and expenses. If you feel you are spending too much, you can go back to the records and check where you can cut down.
Flexible credit –
While using a credit card, you might also take advantage of the interest-free period, where you will not have to pay any interest to the amount you have taken credit on. The period of this interest-free credit period is generally 45-60 days.
If you are using a credit card, it is important to repay the amount on time. This will ensure you get more benefits from the card. The better your credit score is, the better perks you get to enjoy from the card.
Bajaj Finserv, along with RBL Bank, brings the best credit card for its customers. It is called the Bajaj Finserv RBL Bank SuperCard. It gives you the benefits of four cards in one. You will have the EMI card, the credit card, the loan card and the cash card. With this exceptional card, you can get immediate approval of cash for emergency use. The minimum age requirement for the card is only 24 years. This has the facilities of instant online approval and repayment on EMI.
Rehan is a student of Masters at the University of Birmingham. He loves writing about business, finance, technology, and life. He believes that sharing knowledge with the public is the best thing that one can do for the world and humanity.