BANGALORE: Upon hearing the words ‘credit card’, some people instantly think about debt. We all know why credit cards are harmful to our financial situation when they are used irresponsibly.  When they are used and paid off when the statement arrives you can actually benefit more from a credit card than if you made all purchases with cash.

Well it’s good to be a little cautious about lending money, as this is what makes a responsible and sensible consumer, you should know that there are many ways in which some credit cards can actually be pretty helpful. In some ways, credit cards can be better than cash. Let’s take a look at a few:

1. Convenience

If you have both on you, cash and credit cards can be equally convenient to use. However, credit cards provide extra convenience if you generally don’t carry a lot of cash. Credit cards offer the convenience of not having to actually pay for your purchase until several weeks after you receive your bill.

Responsible use of credit cards can also help your credit score, which benefits from having a long track record of on-time payments.