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A Credit Card is one of the simplest ways to pay for anything no more counting out change or writing cheques, just present the plastic! You can even link your card to your digital wallet, which allows you to scan and pay without even having to carry your card in your wallet. While Credit Cards are great for one-time payments, you can also set it up to automatically make recurring payments such as your phone, electricity or gas bills. One of the biggest Credit Card benefits over cash is the ability to pay for a wider range of online services. For example, you canu2019t buy flight tickets or recharge your mobile phone with cash on delivery. A Credit Card comes with a grace period between purchase and payment during which the bank does not charge any interest. Every time you pay using a Credit Card, you earn Rewards.<br>
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What is Credit Card A credit card is a type of bank card that lets you borrow money credit before paying it back with interest. They work as a type of loan, but instead of getting money in an account you get credit that you spend via the card, before paying back what you owe each month. Credit cards are not only important for individuals and businesses; they're an important aspect of continued economic growth. Cash works best in face-to-face transactions and checks take time to cash. So it's customer choose and willingness to choose your perfect card.
Uses of credit card As long as you can use a credit card responsibly, there are endless advantages to using a credit card. They offer rewards, protection, and convenience.
They built credit history:- Credit scores, taken from records of your financial activity, are essential if you plan to borrow money. These scores come partially from your credit card history. They may offer sign-on bonuses:- As a welcome gift, many cards offer bonuses for signing up. Usually you have to spend a certain amount (sometimes within a certain time period) to get the bonus, so read the fine print. They give cash backs:- When you make purchases on cash back credit cards, you earn a small amount of money back. The cash reward can be anywhere from one to six percent of your purchase total. Over time these rewards can add up to a sizable bonus. They offer earn rewords program:- Rewards in common spending categories like restaurant dining, gas, or groceries. This type of card can be great for users who don’t do much traveling but still want to get the most out of their card.
5. They track your spending for you:- This benefit becomes especially useful come tax time. With one record of the past year’s spending already compiled, you’ll save time and effort on your taxes. Business expenses, rental property expenses, charity contributions, and more tricky tax return areas all show up on a credit card statement. 6. They protect against fraud:- Credit card is stolen or someone finds your card information online. Even if the thief starts making purchases on your card right away, you won’t lose much money since charges to credit cards aren’t withdrawn immediately. 7. They let you transfer your money:- In a balance transfer you move your debt from one credit card to another. Other debts, like car loans and monthly installment payments, can be moved to a balance transfer credit card. 8. They come with purchase proction:- Consumer protection is a huge perk of many credit cards. If you buy an item with a credit card and later find out it’s damaged or the quality is poor, you can return the item and get the charge removed.
