PERCY SAYS… Well, aside from letting you in when you have locked yourself out, a credit card offers you a lot of good. To convince you, below is a set of X things that you can benefit from by owning credit cards, given that you are in total control over your spending habits.
A Credit Card Helps You Get a Commendable Credit Score
Smartly using your credit card and being able to repay in a timely manner especially in full, helps you build your credit. The manner you get your balance settled reflects right into your credit report. Of course a report that is clean gives you more chances at acquiring credit limits and privileges by the time you need one from creditors. If you have a good credit score, you might even get a low interest rate wedding loan in Canada (just saying)!
A Credit Card Offers a Wide Array of Purchase Benefits
Purchases such as electronics always come with warranties. However, certain credit card companies offer you the chance to have extended warranties for your purchases. Also, you may want to leverage “purchase protection” systems where in the event that items of a certain price range bought using the credit card are bound to reclaims and compensation should they be stolen.
A Credit Card Gives You a Good Chance at Free Cash
Being able to repay in full the amount of money you owe your lender through your credit card entitles you to a chance of making money every year for this deed of spending and repaying discipline. Once you get the amount you lender has credited to your account, you can cash it out and place it in a savings account to earn you savings interest. Cash credited plus savings interest can mean something you have wanted to purchase for a long time now to be at your table before you know it.
A Credit Card entitles you to Pricey Freebies
Credit card companies are known to bribe people to sign-up with them for credit cards. These bribes normally come in the form of really pricey deals that are given to new credit card holders for free. Most of the times they come in the form of all paid-for international return flights or as spending vouchers on certain stores. As a matter of fact, credit cards are known to offer vouchers with fat-figures to be spent on high street shopping.
A Credit Card offers the Best Exchange Rates
This comes into action when you are out of the country. Most people have the habit of using money changers. Money changers charge you for their service and the pay-out amount may not always be the best. The trick is to use your credit card to pay for your accommodation, food and even for just about everything you need while out of the country. As a matter of fact, using a credit card abroad will have you as much as 6% off of the things you pay with it. It can also double up as a bread knife should you require a utility to facilite the spreading of butter.
While the term “credit card” is often almost-synonymous to the scary word “debt,” there are actually perks to owning a credit card. Of course, those listed above are just a few. Keep tabs of your spending, be sure to pay in full at the end of the month and you are sure to benefit from more perks that comes by owning a credit card.