How can Credit Cards give you a Hassle-Free Shopping experience?

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How can Credit Cards give you a Hassle-Free Shopping experience?

How can Credit Cards give you a Hassle-Free Shopping experience?

Financial experts go to great lengths to educate people on ill-effects of overusing plastic money. They perform this vital task for a good reason. A vast majority of these individuals have no self-control when they go out shopping. They buy whatever catches their fancy with their credit cards. No wonder these professionals refer to them as ‘shopaholic.’ In the process, they end up accumulating more debt than they can handle.

This has a devastating effect on their finances over time. You certainly don’t want to find yourself in such a situation. However, if you use this mode of payment responsibly, you won’t land yourself in trouble. On the contrary, you can save a lot of money in the process. This is what you want at the end of the day.

Is it worthwhile to apply for a credit card?

Most people face a very serious dilemma whenever they go out shopping. They aren’t sure whether to use their credit or debit cards when making purchases. Both of these forms of plastic money have their own set of advantages and disadvantages. Financial experts suggest they should use their credit cards. These individuals just need to limit the number of transactions they make. Moreover, they should have enough money to pay back their dues at a later stage. This is a fact which you need to keep in mind.

The professionals go on to point out the following6 important reasons for taking this course:

1.Rewards system

You probably find many financial institutions offer credit card facilities to the public in the market. Each of these organizations provides certain incentives to their customers to make purchases using their cards. Almost all of these establishments use a ‘reward-points system.’ The officials of these concerns offer these individuals 3-month promotional schemes. These cardholders use their plastic money to make certain categories of purchases. In doing so, they accumulate points. After reaching a particular threshold, they can redeem the points they gather for a ‘gift card.’ Some companies even allow their clients to purchase whatever they want on their online retail catalogs. In doing so, they receive attractive discounts.

2.Cashback

This is another very popular incentive scheme which many financial institutions use. The process isn’t really difficult for you to understand. The officials allow their customers to use their credit cards to purchase whatever they want. These individuals then get a refund on the total amount they spend with their plastic money. Generally, it is 1% of the price of whatever they buy. At the end of each month, the cardholders get a statement from their lenders. This document informs them of the amount they need to pay back to their financiers. These individuals have the option to deduct the total sum of their refund from the amount they owe. In the process, they save some money. This is an important fact which you can’t afford to overlook any costs.

3.A safer option to the debit card

This may come as a complete surprise to you. However, you need to understand an important fact. There is always a possibility that you may lose any of your plastic money. This may happen regardless of how careful you are with your belongings. A pickpocket may snatch your wallet without your knowledge. This individual can instantly withdraw all the money in your account with a debit card. In such an instance, you can recover this sum by informing your lender of the incident. However, it is a time-consuming process, and you may have filed a report with the police. In the interim period, you just have to make do without this amount. This is not the case with an unsecured credit card. You just tell your financier of the theft and refuse to pay for any fraudulent transactions. He/she will handle the matter. It makes your life a lot easier.

4.Grace period

When you purchase whatever you need with a credit card, you don’t pay immediately. At the end of every month, you receive a statement. This document provides you with all the information you need. This includes the items you brought, their prices and the total amount you need to pay. Even then you don’t need to clear this bill as soon as you receive it. You financier gives you a due date along with a grace period of around 2 to 3 days. This extra time can help you to arrange the money to make the payment. It’s a far cry if you use your debit card for the same purpose. In this case, the banks deduct the amount you spend from your account immediately.

5.Insurance

Most financial institutions offering credit card facilities to the public have tie-ups with insurance companies. Like most people, you may be unaware of such an arrangement. In this case, you have to make a purchase with your plastic money. This could be a consumer product like an air conditioner or insurance for a car rental. In this case, you get extra coverage without paying anything. It is normally over and above what your manufacturer or service provider offers. In the process, you save money. This facility is not available if you use your debit card for the same purpose.

6.Enhancing your credit score

You may want to improve your current credit score for a variety of reasons. Fortunately, using your credit card to purchase whatever you need can help you achieve your objective. Your financier has an obligation to inform the credit bureau of all your repayments. All you need to do is make such you clear all your dues on time. This is not possible when you use your debit card.
Applying and using a credit card may prove to be a necessity for you rather than a luxury. The above 6 important reasons for taking this step proves this fact without any reasonable doubt. You can buy whatever you need and pay later. However, you first need to learn how to use this plastic money responsibly. Otherwise, you’ll end up accumulating more debt than you can handle. This is obviously the last thing you want.

How can Credit Cards give you a Hassle-Free Shopping experience?

How can Credit Cards give you a Hassle-Free Shopping experience?

How can Credit Cards give you a Hassle-Free Shopping experience?

How can Credit Cards give you a Hassle-Free Shopping experience?
How can Credit Cards give you a Hassle-Free Shopping experience?

How can Credit Cards give you a Hassle-Free Shopping experience?
How can Credit Cards give you a Hassle-Free Shopping experience?
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How can Credit Cards give you a Hassle-Free Shopping experience?


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