Apart from serving as a way to spend now and pay later, credit cards earn loyalty from cardholders due to the exciting benefits have bring. You can enjoy credit card mobile offers, discounts on travel, deals on shopping from top brands, and more.
Be it a flat discount or cashback, your card can throw open a world of rewards in front of you. Use them to make shopping more fun and reduce your financial burden with every swipe. Be careful, however, to not use a card simply for offers. Use a card for purchases you can afford to repay and think of the offers are an added benefit.
If you’re unsure if getting a credit card is a good idea, leaning about the various advantages associated with these cards can help you make a decision.
Credit Card Pros
You will get many benefits with added rewards and offers if you have a credit card. Here are some standard advantages you can get:
Quick Access to Cash
With a credit card, you don’t need to worry about getting access to funds in case of a medical or personal emergency. You can make online or offline payments using your card up to the credit limit granted by the issuer. Then, you can repay the borrowed amount at the end of the month easily.
You can also take a cash advance or a loan using your card’s available limit. It helps you access funds quickly and easily to manage many of life’s emergencies. While these features may come with interest charges, they make it easy for you get funds when you are in a fix.
Opportunity to Enhance Credit Profile
With a credit card, you can elevate your score. This is crucial for future borrowing needs. The advantages of having a good score are limitless, and here are some of them:
- Quick loan approval
- Better eligibility
- Higher credit limits
- Power to negotiate for better terms
These are some of the most valuable aspects of having a good credit score. Using your card responsibly, such as making timely payments, can help build a positive credit history.
Easy EMI Conversions of Purchases
You can even convert your purchases or bills into Equated Monthly Instalments (EMIs) for easier repayment. Converting a credit card bill into EMIs allows for smaller, fixed monthly payments rather than paying a lump sum. This can ease the financial burden, making it more convenient to manage your cash flow, especially after making significant purchases.
Protection from Fraud
One major benefit of using credit cards is that they offer you more security when it comes to fraud. This is because the funds are not being directly used from your account but from the limit offered to you by the credit card company.
Thus, if you notice a fraud you can inform the credit card company and enjoy zero liability protection, which means you will not lose money in case your card was used by a scammer.
While most issuers provide security features to keep your finances secure, your card may still get misused, stolen or lost. In this case, you can dial their credit card block number and prevent further losses.
Types of Benefits Associated With Credit Cards
Apart from the features mentioned above, you can get various types of rewards, which can reduce financial strain considerably.
Reward Points
Every time you make a purchase, you earn points based on the amount you spend. These points can later be redeemed for a variety of exciting options, such as:
- Paying utility bills
- Travel benefits, including discounts on flight or hotel tickets
- Vouchers or gift cards
- Buying merchandise
Joining or Welcome Offers
When you initially sign up for a credit card, most issuers typically provide unique and exclusive welcome offers. These may include:
- Memberships for OTT platforms or loyalty programs of clubs, hotels, etc.
- Gift cards or vouchers for shopping
- Higher reward points on making the first transaction
- Complementary movie tickets
Cashback on Purchases
With cashback, you will receive a percentage of the total amount you spent during a transaction back. This instant discount can help you effectively save money.
Freebies and Discounts
You can take advantage of a wide range of deals across various categories, including:
- Free desserts on dining with a partner restaurant
- Credit card mobile offers such as flat discounts on purchasing a newly launched smartphone
- Cashback on travel bookings
- Room upgrades at partner hotel chains
All this can significantly enhance your overall spending power.
If you are new to the credit card multiverse, start with something that doesn’t require you to pay joining or annual fees. You can begin your credit card journey with the One Credit Card. Not only is it lifetime-free, but also doesn’t charge you any rewards point redemption fee.
This stylish metal card comes with many deals on shopping, travel, dining, and more. Its powerful mobile app is built on full-stack technology, and you can use its ‘Offers Near Me’ feature to find even more ways to save! In fact, you can use your card more confidently as the One Credit Card App also allows you to set spending limits. Apply now to get started and enjoy a wide range of benefits with this credit card.
