A credit card is a way of spending money and getting credits for 50 days from the bank without charging any interest.
You can use your credit card for shopping, buying groceries, and the other daily expenses that you have because it allows you to have a maximum time of 50 days to pay the credit again.
Here are five reasons why you should use your credit card:
You can use your credit card as a contingency amount like you can use the card whenever you have an emergency medical situation, or you need to pay your essential expenses.
A credit card can be a real savior during times of need, and it can help you pay the charges right away with the help of the credits because it gives you some time to pay back your dues.
You get a period of 50 days with your credit card, which allows you to spend the money for the entire month, and then it also gives you an extra 20 days.
So, you can pay back your dues within this 50 day period, and it will charge you no interest. There are also options to save some money on big purchases like air conditioners.
There is an option of reward points which you get on your credit card on your spendings. Some credit cards give you around 4 points for every Rs 100 that you spend.
So later, when you have a lot of redeeming points, then you can use them to get a gift voucher or any product that you prefer from the catalog.
The reward points can give you some nice vouchers that will be useful for you.
Offers and discounts:
Some banks have tie-ups with the stores and brands, so they allow you to have some discounts and also have great offers.
You can avail of different discounts and offers on various purchases that your credit card has to offer to you. There are companies offering
EMI offers on the cards, which means if you do not have the money to pay, you can convert
the amount into an EMI, which will be easy for you to pay and deal with.
It is important to have a good credit history no matter what because a good credit history allows you to take credit from the bank and also sets up an excellent reputation for you as the cardholder.
Baks prefer the credit score of the customers to be around 750 or more for them to take up any credit from the bank.
If you pay your credit card bills in time, then it will help you in increasing the credit score and also make you look like a responsible cardholder.
A credit card is a great product offered to you by the bank if you use it in the right ways and pay your bills on time.