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Sunday, September 25, 2022

Advantages of Using Credit Cards

Using credit cards to purchase online transactions and even paying at stores becomes the norm and what people are usually doing. Credit cards are still credit or debt and once you you use some, there’s a minimum amount that will need to pay every month. Credit is still credit and you must pay what you owe. This short article lists significant advantages why more people are using credit cards.

1- Convenient

Most of the rich countries globally like the UK and US, normally use credit cards in paying for their goods and services. Bringing cash can sometimes not be secure especially if the thief knows you are bringing your bag and you have just recently withdrawn your money from the bank. It’s easy to book your plane tickets, reserve some orders, and paid some bills if you are using a credit card. You can have a travel credit card bonus if you always use your credit cards in paying for your tickets for your travel adventure. It’s very convenient to bring a small card and just put it in your wallet and wait until the transactions are finished after the merchant swipes your card.

Travel planning concept on table
Travel planning concept on table

2- Paying in Credit

One of the reasons why more people are using credit cards even in Asian countries like Singapore is because if they don’t have enough money to pay in cash, then they can use their credit cards so they can pay in credit. The good thing here is once you are paying your credit on time using the card, chances are you will have a higher credit limit in making purchases online and in physical stores. Paying on credit is good as long as you put a limit on it since this can be enticing and don’t forget to make monthly payments on time.

3- Added Benefits

One added benefit of using credit cards is its discounts, promos, and privileges you can avail of. If you use the card most often, you can have bonuses. Life goes back to normal after the pandemic, and the tourism industry starts to operate its services once again. More people are traveling to different places internationally and they are using their credit cards to book online transactions like their plane tickets and hotel or resort booking. There are more added benefits if you are loyal and a good payer of your credit card.

Passport and credit card on brown wooden desk background, Preparation for Traveling concept
Passport and credit card on brown wooden desk background, Preparation for Traveling concept

4- Safety Measures

For security reasons, paying credit cards has security features to prevent fraud and scams. It is important to secure and not to give to someone or transact online, especially with the last 3 numbers of your credit card. Do not give credit card info online. It is easy for scammers to copy your credit card info once you enter the details on a site that is not legit. That’s why once you made a transaction online using a credit card, they will ask for OTP or a one-time password first before the transaction gets successful for them to verify if you as the owner made the transaction.

Credit cards can be useful but it has their disadvantages especially if you keep on spending beyond your needs. So only spend on what you can afford to pay.

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