Why should you use credit cards ?
It is myth that one should keep away from credit cards because they tempt for impulse purchases. If you are disciplined enough to pay back the borrowed amount each month, it is defiantly secured and safe option to make purchases through Master Card. Credit card allows you spend up to pre-set limits and you have to pay back within stipulated time. Many banks offer these credit cards without strict regulations and owning one offers you many benefits. Though these is no restriction on number of cards that can be held by a person, it becomes tough game manage monthly payments on the cards if you have more than two
Sign up bonus
If you apply for the master card credit card with good credit score, you may stand eligible for the credit cards with reward points. You can even use these reward points for purchasing gifts or cash redemption. You are at a benefit of getting a reward even before using the credit card. Some best credit cards do offer cash redemption program where you get certain percentage of cash back on each purchase. Cash back percentage may vary depending on the product you purchase and the bank that has offered it.
If you are frequent business traveler, there are some credit cards deals specially offered for the purpose. You will have option to rack up miles for each rupee spent through card. Banks pay you miles for each dollar spent on the card. You can redeem these miles in your next trip if you desire. You can even accumulate these points and redeem it for a free trip once in a while.
Safety stands as key advantage when it comes to usage of the best credit cards. If you find it that your debit card is used fraudulently. Money gets wiped out from your account instantly and you have to suffer with tight funding in the month because banks take a decent time to investigate the issue and return the funds back to your account.
On the contrary, if the top credit card is used fraudulently, you are not out of money. Just notify the credit card companies about the fraud and stop payment for the transactions that you did not make. In addition, these credit card companies have got some insurance plans that keep you away from the risk in the case of fraudulent transactions.
Hang on money
Top credit card offers you a grace period to pay the money back after the purchase. Like debit cards, There is no need for you to withdraw money from high interest paying account when you make a purchase. The interest that gets credited through the grace period is an extra benefit when you use credit card for purchases. Having money in account for extra time can help you address any financial emergencies if any. Unlike debit card, there is no need for you keep checking your account balance each time you make a purchase.
The best benefit of using the top credit card is you will be able to build your credit score with prompt monthly repayments of the borrowed amount. Credit card companies do report your payment history to credit bureaus at regular intervals. Having good credit score will make you eligible to many other loans offered by banks.