No one’s asking you to go cashless!
But, using a credit card means being more than just cashless transactions.
People often wonder if using credit cards is associated with credit debts, missed payments, breaching the credit limit, etc.
It entirely depends on how you plan to use them and how you’re working with the credit card knowledge you have gained from this blog and from that finance advisor you found online.
But are there reasons to go only with credit cards?
Are there really some benefits in making the best use of the credit card to help manage almost all your financial goals and management traits?
Probably there is! Otherwise, this blog wouldn’t have been written.
So, why only credit cards? What is the reason for that?
Let’s find out.
Making Payments with Credit Cards only? A Joke or a Reality?
Well, it is a reality (apologizing to the comedians).
You must understand that most people in the UK depend on credit cards rather than cash money.
Statistics also said that credit card usage has the potential to make money entirely digitized.
While that is still not a thing to worry about, credit cards have helped create worthy financial services like short term loans in Ireland for bad credit in order to help an individual or a business manage money conveniently.
Here are some ways credit cards win the game at being the only payment option against many other ways.
IT’S SAFE
You Can Get Rewards and Offers
0% Foreign Transaction Fees
Do you Get Advantages in Building Credit Score?
Insurance Benefits
So, why worry more to use a credit card? But, if you’re still in the ‘thinking’ zone, then it is time for you to go ahead and read these points ASAP.
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IT’S SAFE
Carrying a thick wallet sounded good a few years ago.
Now, it is more of a responsibility and a constant anxiousness to keep it safe.
Why would you need to do that in this digital age?
Simply use a credit card and carry a small wallet keeping just some cash money for immediate use.
A credit card is a super lightweight plastic card that needs minimal equipment to carry. It is also not susceptible to the threat of theft. In fact, they also win over debit cards if they get to be stolen.
A debit card can be used fraudulently, and that can lock it. A credit card company will instead take action and ensure your credit transactions made fraudulently do not affect your credit score once you have informed the company about the problem.
Credit card brands like Mastercard or Visa offer you zero liability coverage if an unauthorized purchase occurs.
Can cash money give you that?
You Can Get Rewards and Offers
Who doesn’t like to get return gifts?
With many credit card companies, you get the opportunity to gain a percentage of your costs to come back to you. In contrast, others give you fantastic customer loyalty programs, cool benefits, minimized charges, and free goodies to enjoy.
This conception is often commercially called the cashback credit card.
The concept was born and popularized in America. Now, it is a steady business deal with almost all credit card companies around the world.
Here are some of the benefits you might get with a cashback credit card:
- You get a percentage of the costs (like 1% to 5%) to be transacted back to you when you purchase groceries, dining or takeaway food, book hotels, or even buy gasoline for your car.
- You can get almost endless ‘reward points’ with a credit card that you can claim or redeem and use to buy other things at discounted rates (or for free at times)
- You can again purchase a credit card that offers surprising gift cards
- A number of services are offered FOR FREE to credit cardholders only.
Want more? Well, you might find more if you talk to your credit card company or the bank about the purchase you are making.
0% Foreign Transaction Fees
You know that many foreign countries exist that charge particularly a percentage of money in order to help you avail a service.
What happens when you’re holding a credit card as well.
But, what’s the point of using such credit cards when you do not get the return you have been looking for.
Many credit card companies sell you this service of 0% transaction fees while making foreign exchanges.
You can also avail of foreign products or services while staying there or visiting the country for traveling purposes.
Do You Get Advantages in Building Credit Score?
Sure!
Keeping a accredit card and using it in the right ways help you make a credit score, for which you may get or avail yourself services in an easier way.
Ask your cash money to do that.
A credit score is a number you get as per your management of the transactions. If your payments are timely, if you make payments in the right amounts; if you do not pay much than your credit limit; if you have repaid your credit balance, then you make a good credit score.
Doing that will help you get insurance benefits. You can rent a house or own one affordably and fast. You can earn rewards in paying your bills, and you can get extra perks in using public services. You can get a cash loan in Ireland in just 1 hour and that too at a low-interest rate if your credit score is high.
To Conclude
Well, there is a lot of things about credit cards that you’re YET TO KNOW.
Do that by purchasing one.
One good piece of advice for you is that you need to compare different credit card options and look for the best deal on the Internet.
Have a detailed conversation with the credit card dealers or your bank professionals about the facilities a particular credit card can provide.
Take a bit of time. Make a decision. Buy a credit card. And you’ll hardly use cash.