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Why you need them Credit Card ?

 Why you need them Credit Card ?

Credit card is a great tool in the modern world to acquiring a stronghold in finance. It is almost unthinkable to imagine the current generation doing without credit cards. Though it seems like a smooth journey from one end, the other end might get bumpy. They can land you in debt if used in excess but when used judiciously they are a savior. Let us delve deep into the matter and discover the reasons for using the credit cards.

Credit Card


Cash backs

Most of the credit card companies have a cash back facility for its consumers which give them around 1% of the buy back. This might increase up to 5% on your buys. It is better to go with the companies giving more cash back guarantee on the purchases for your own benefit.

Point system

According to this system, points can be accumulated for every dollar which is spent. Once you have a favorable point score you get the chance to attain gift cards by redeeming those points from certain stores.

Credit Building

Credit cards are your gateway to build credit score by using it prudently. If you are successful in recovering a good credit score, it will be reported to the credit bureaus which will in turn help you get loan.

Grace time

Buying necessities with a debit card empties your account in a jiffy but that with a credit card gives you the time to pay the bill after a certain period. While this grace period is on, you can add extra interest to it by paying from ‘high interest; checking account.

There are some more perks like bonuses for signups, investment rewards, insurance as well as safety which you get from them. Besides, with a credit card you can things or services which doesn’t accept debit card as the mode of payment. It will be supportive till you are a responsible user of the credit card.

Read : halifax online banking, Money Subsidiary.

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