Swift Headline
Latest News and Updates

Must-Know 8 Secret Benefits of a Credit Card 

Whether you are paying your energy bills or looking for a holiday abroad, credit cards afford you a great payment option. People have bought cars, houses, and even pets using credit cards. A credit card is the best payment option when you don’t wish to carry cash around, enhancing your purchasing potential, both globally and domestically.

The credit card industry in India is touted to flourish at a CAGR growth rate of above 25 percent between 2020 – 2025, as this has become a very popular method of payment in the country. In India, the number of credit card users recently touched 52 million. However, this is still about 32 percent lower than the total number of credit card users in the United States of America, and many other developed nations.

Several financial institutions can issue credit cards to you, such as the best rbl credit card. With traditional ways of transacting being ubiquitous in India, individuals are often hesitant to use plastic payment options such as credit cards. People think of the hefty bills that might surprise them in the future. However, if you think of this sensibly, the fact remains that if you’re willing to shell out cash anyway, you might as well use a credit card, because it gives you the breathing space to pay for products and items over a period of time. Even if you enjoy the satisfaction of using a debit card, a credit card gives you the freedom of more than just the convenience of ready cash.

Switch to credit cards

By nature, Indian consumers are accustomed to a certain lifestyle, and any kind of change may pose a challenge. While debit cards provide clear benefits of instant payment without having to think of payment at a future date, bajaj rbl credit card benefits need to be considered too. For instance, you may be compelled to postpone buying something that you require because you lack sufficient funds in your bank account. Postponement of purchase might not be the ideal solution.  You may not be able to purchase the item you want if you wait. Instead, you can make use of your credit card, knowing you will have funds to pay for your item at a later date. What this means is that debit cards cannot be used for purchases beyond the amount you possess in your bank account.

A brief rundown on credit card benefits

If you are thinking about getting a credit card issued from any premier financial institution, such as an RBL credit card, it’s a sensible decision, given the following benefits you receive:

  • Cashback facilities – A self-explanatory benefit that you get when you purchase something with a credit card. It’s basically free money/bonus that you receive when you spend with your credit card.
  • Rewards –  Several credit cards offer users reward points when they use their cards. The more you buy, the more points you get, which can later be traded for cash amounts. You can spend these on later purchases. These fringe benefits don’t come with other cards, such as debit cards.
  • Paying on EMIs – When you want to buy big-ticket items, such as a fridge or a flagship smartphone, you can pay by easy monthly EMIs, via your credit card.
  • Breathing space and credit score – A credit card gives you breathing space to pay for your product at a later date. Usually, you get a breather of at least 45 days from the date of your first purchase. You should use a credit card often and pay off whatever you owe for the entire billing period. As a result, you earn the perk of having a great credit score with a record of payments made on time.
  • Miles when you fly – You can earn frequent-flier miles if your credit card is linked to a partner airline, from whom you purchase tickets. The more you use your linked credit card to buy tickets, the more miles you earn. You can exchange these for discounts on subsequent ticket purchases. Credit card benefits like these are a boon for business travelers who travel frequently.
  • Safety – Credit cards are the safest way to pay, as phishing attacks are curbed with multiple checks when you use credit cards. Also, since the money isn’t debited from your bank account, you can always raise an issue if you suspect fraudulent transactions. With all the scams going around, this offers some peace of mind.
  • Safe to carry – It’s obviously a lot safer to carry around plastic cards than cash.
  • International use – Some credit cards (of global banks) can be used internationally for hassle-free transactions in other countries.

Leave a comment