Credit Cards: The Plastic Friends That Make Your Life Easy

From a young age, we are taught about the importance of saving money. How we must invest wisely, and develop disciplined spending habits. If you can inculcate this discipline in managing your spending, you will find that your credit card can be your best friend. It can aid you in times of financial crises and unforeseen circumstances. They also allow you to indulge when you are tempted to buy something. The key however, is to pay off your debts within time. Here are the some advantages you can reap if you use your credit cards responsibly.

Benefit from the rewards programs: There are several types of credit cards that offer great reward programs. The smart thing to do is to choose a credit card that offers benefits that you could actually utilize. You can redeem your reward points on booking flights, shopping and several other things. In fact, if you have additional points, you can also utilize them to pay your annual credit card fees.

Get frequent flyer miles: If your life-style involves travelling for days on end and spending hours at airport lounges, you could consider buying a frequent flyer credit card. Every time you make a purchase, you earn points, which you can in turn use to purchase flight tickets, lounge accesses and concierge services. What’s more you can also use your points to upgrade from economy to business or first class.

Cashback offers: While reward cards earn you points on the money spent, cashback cards pay a percentage of your money back into your account. Cashback cards are the best credit cards in India, designed to save your money on monthly expenses with amounts depending upon the credit card’s cashback policy. You can get anywhere between 1% to 10% cashback with the right card, depending on where you shop.

No need to worry about currencies: No matter what part of the world you are in, with your credit card, you can make purchases in any currency across the world. While some types of credit cards charge a relatively minor currency exchange fee, a few of them waive of the charge altogether. Travel credit cards are ideal for spending money abroad. You can also set authorizations on your card as per your comfort.

Fraud Protection: In a world of scamming and phishing occurrences online, most credit-cards have stepped up to provide fraud protection to their customers. Cards with fraud protection services cover security and keep your money safe from any fraudulent purchases. If your card has been fraudulently used, you must report to your creditor within a stipulated time. You will not be charged for the transaction and new card would be sorted for you soon.

Get complimentary insurances: One major reason to consider purchasing a credit card is for the insurance and protection it offers. Most credit cards offer insurances on various things like rental cars, purchase protection, warranty extensions, as well as travel insurance to the tunes of 2-10 lakhs or more. Credit cards offering travel insurance rank among the best credit cards in India.

Shantanu Patel is a finance student who loves to write in her free time. He has spent considerable time researching about personal loan. Through his work, he provides reasons on why you should take them up