Why You Must Have a Credit Card?

Updated on: 03 Jan 2024 // 3 min read // Credit Cards
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In the present-day times when the government is moving towards a cashless economy, plastic money has become an integral part of the financial model of the country. Credit Cards have numerous benefits which easily outshine the limitations. Not only do they offer you the much-needed financial freedom, but also help improve the credit scores, if used judiciously.

Not convinced yet? Well, here are some of the reasons which will compel you to apply for a Credit Card.

Credit Cards Help You Avail Numerous Offers

To boost their business, Credit Card companies necessarily want people to rely more and more on Credit Cards. To do so, Credit Card issuers offer various cashback offers and discounts. The best offers are not just confined to regular shopping, but also to lifestyle expenses such as travelling, fine dining and the purchase of luxury goods.

Moreover, Credit Cards also have tie-ups with various brands and offer additional cashback and discounts when a customer purchases the products or services provided by these brands. An excellent example of the same is – Miles Card, for customers who are frequent travellers.

All you need to do is pay your monthly balance in full, always, and you can enjoy all these benefits, without spending a single penny!

Considering these schemes, one can quickly conclude that using a Credit Card can help save a lot of money.

Credit Cards Help Improve Your Credit History

To procure a home, personal loan, car loan or other such loans, you must have a good credit history and score. For this history, it is essential to have a Credit Card.

If you do, and you manage to pay your credit bills well within time, it helps you flaunt proper financial discipline. It shows your financial stability and your ability to repay loans efficiently to the lenders. This, in turn, ensures that the lenders such as banks and other financial institutions, easily sanction your loans.

Moreover, if your credit limit is relatively high, you can also apply for more significant loans and get them sanctioned conveniently.

Credit Cards Make Travelling Convenient

Most Credit Cards enjoy a worldwide acceptance, thus making it easier for you to make purchases and pay your bills while travelling. With Credit Cards, you don’t need to carry large amounts of cash or exchange it into local currency.

Moreover, numerous hotels and car rental service providers offer convenient booking alternatives when you pay using a Credit Card. You may have to incur international transaction fees on every transaction while paying via Credit Card, but the convenience it offers is simply unmatched.

Credit Cards Offer Consumer Protection

A vast majority of Credit Cards offer added protection measure so that you do not have to suffer from any inconvenience. These include:

  • Extended Warranties
  • Zero Fraud Liability
  • Price Protection
  • Guaranteed Returns

Credit Cards Help You Manage Your Money Online

Not only do online credit cards save you from the hassle of carrying wads of cash wherever you go, but also ensure that you can conveniently manage most of your transactions online. Moreover, the dedicated online portals also help you pay bills, make purchases and check your balance with great ease.

Indications That You Must Get a Credit Card

If you are still wondering whether it is the right time for you to get a Credit Card, then check for the below-mentioned indications. If they are in your favour, you must wait no more, before you apply for this much desired financial tool:

  1. You are debt free
  2. You intend to pay your Credit Card bills on time
  3. You need to build a good credit score
  4. Your spending habits can benefit from the various rewards, discounts and cashback offered by Credit Card companies.
  5. You are in need of a small, short-term loan and are positive about the fact that you will be able to repay the same promptly.

So, what are you waiting for? Now that you know, why you must get a Credit Card, go online, and enter ‘Find the Right Credit Card for Me’ in the search bar. Before you know it, you will be flooded with some promising options. Pick the one that best suits your needs and go ahead with it!

Also Read : Best Credit Cards for the Shopaholic You!

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 60+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.

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