Credit Cards Better Than Debit Cards, Know How!


BENGALURU: Credit Cards are either seen as angels or demons based on the experience people had with them or just reading either advertisements of credit card issuers/stories of people being harassed by their credit card recovery agents. Some people prefer to have as many as they possess, just to show it as a status symbol. Reckless use of credit cards can lead to a debt trap and bring down your CIBIL score. However, using credit card responsibly has many benefits, according to businessinsider.in.

Here are some 7 reasons why to use credit cards:

sdRewards:

Rewards are very essential while using a credit card because it can pay your flight ticket if you have airline miles left from your credit card.  Accumulated points for a large amount of purchases over time can result for a free flight ticket. As long as one does not think of such rewards when making purchase decisions, this can be a nice benefit of using certain credit cards. There can be even some cash back benefits in credit cards to consider as well.

sdSafety:

Paying with a credit card makes it easier to avoid losses from fraud. When your debit card is used fraudulently, the money is missing from your account instantly. Legitimate payments for which you have scheduled online payments or mailed checks may bounce, triggering insufficient funds fees and making your creditors unhappy. Late payments can also lower your credit score which is a common mistake everyone makes.

Read More: 5 Factors That Have No Impact on Your Credit Score

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