5 Reasons To Get A Credit Card
5 Reasons To Get A Credit Card: Owning a credit card has become the norm in the urban populace regardless of age, ethnicity, geographical area or social class. A credit card has become this common and abundant owing to its many advantages. In this article we will shed light on a few benefits of having a credit card.
- Cash Returns
A credit card makes a cash-less payment, which reduces the amount of tax you have to pay. Spending tax-free cash via a credit card earns you a percentage of payment back from the credit card company that is often credited to your account annually. This is the same as to receiving bonus for giving bonus. However, you have to be mindful of paying off your credit card bills on time and in full each month.
- Redeemable Rewards
Many credit card companies have the option of reward schemes for using their particular credit card. You will receive points or vouchers for every dollar you spend that are redeemable for further purchases in particular locations or on specific items.
- Overseas Access
The best thing about credit cards is that you can use them overseas without any hassle. Due to globalization, like all other things, the financial sector has also amalgamated and is interlinked throughout the world. You may have to pay a little extra as foreign loading fee. Some credit card companies do not even charge these and do not charge for cash withdrawals either.
- Credit Score
Nowadays credit cards not only hold the possibility of overdraft at any given time but also shed light on your profile. This profile maintains your credit score, which is beneficial if you wish to take a loan or take up any mortgage. Your credit card history will show potential lenders if you are a good credit risk or not.
- Protection
Losing cash most often than not means never seeing that money again. The ease of credit card is that its workings are all virtual; with a click of a button, you can retrieve its location, its spending and even blocking the card in case it is stolen.