12 Benefits of Using a Credit Card


1.Intrest Free Period

30 days to 50 days

Credit cards offer you interest-free period on purchases. This means you do not accrue any interest on your spends as long as you pay off the amount within due date.


2. REWARD POINTS & CASHBACK BENEFITS

Credit cards reward you for using them either in terms of reward points, say 10 reward points for every INR 100 spent, or in terms of cashback.

You can save up to 5% of your money through reward points & cashback which could easily be at least Rs 3000 in one year. If your spendings are much higher, your rewards points & cashback also increase proportionately, resulting in more savings in an year.

SPECIAL BENEFIT WITH CO-BRANDED CREDIT CARDS

Co-branded credit cards are sponsored by third-party like airlines, online shopping websites, or travel booking websites. These credit cards offer great deals on their respective platforms that could save you a ton of money.

The most famous co-branded cards include SBI Air India Credit card, American Express MakeMyTrip Card, SBI Yatra Card, Snapdeal HDFC credit card, and Jet Airways co-branded credit cards.

3. EMI facility

If you plan on making a large purchase and don’t want to sink your savings into it, you can choose to put it on your credit card as a way to defer payment. In addition to this, you can also choose to pay off your purchase in equated monthly instalments, ensuring you aren’t paying a lump sum for it and denting your bank balance. Paying through EMI is cheaper than taking out a personal loan to pay for a purchase, such as a television or an expensive refrigerator.

4. Online Purchases

More offers, No cost emi

5. Improve Credit Score

6. Emergency Fund

There are times when money is the simple solution to an emergency. If you get hit with an unexpected expense, credit cards can be the quick and easy solution you need.

7. Safety

Paying with a credit card makes it easier to avoid losses from fraud. When your debit card is used by a thief, the money is missing from your account instantly. Legitimate expenses for which you’ve scheduled online payments or mailed checks may bounce, triggering insufficient funds fees and making your creditors unhappy. Even if not your fault, these late or missed payments can also lower your credit score. It can take a while for the fraudulent transactions to be reversed and the money restored to your account while the bank investigates.

By contrast, when your credit card is used fraudulently, you aren’t out any money – you just notify your credit card company of the fraud and don’t pay for the transactions you didn’t make while the credit card company resolves the matter.

8.Foreign Travels

No more wasting your money while converting your currency from INR to USD or whatever when you travel to other country. Your credit card can be used across the world and foreign currency markup fee which is usually 3.5% + Service Tax and is fairly lesser, as low as 2% on some of the selected premium credit cards. On top of it, you’ll get reward points or cashback on every purchase, making it the right choice to pay while you’re on foreign trip. Say no to Cash.

9.Universal Acceptance

The credit cards are accepted world over especially if they use Visa or MasterCard payment networks.

Certain purchases are difficult to make with a debit card. When you want to rent a car or stay in a hotel room, you’ll almost certainly have an easier time if you have a credit card. Rental car companies and hotels want customers to pay with credit cards because it makes it easier to charge customers for any damage they cause to a room or a car.

So if you want to pay for one of these items with a debit card, the company may insist on putting a hold of several hundred dollars on your account. Also, when you’re traveling in a foreign country, merchants won’t always accept your debit card – even when it has a major bank logo on it.

10. Priority Airport Check-ins, Free Lounge Access  and other Perks

With premium credit cards, you can expect a lot of perks for holding the card. For example, you can have a priority check-in, no more long queues, you can avail airport lounges for free. These benefits varies from card to card. On some of the super premium credit cards you can even play golf at free of cost unlimited times a year. You will have 24/7 concierge service, a kind of personal assistant who can help you with almost all things in sourcing the information for you. it would be of great help if you’re traveling to an unknown place. Also there are lots of seasonal offers on websites, usually provided by Visa from time to time.

One of my favorite feature is complimentary Lounge Access. Ever wondered how to make the most out of that “Layover” time at airport? With premium lounge access, you can get spoiled with luxury environment to rest your mind, have complementary snacks, wine, a quick shower, etc. and this will infact give you feeling of traveling in business class, well, on top of it, its for FREE

11. Balance Transfer

12. Quick Personal loan / instant Loan

When you need funds during an emergency, you can use your credit card to convert the cash limit into a loan. This facility is offered by a few issuers, and can impact your convenience greatly. For instance, the SuperCard also functions as a loan card, wherein you can use it to obtain a 90-day interest-free personal loan as per your current credit limits and repay it in three easy EMIs.

The SuperCard is one card that you should consider when seeking versatility coupled with economical interest rates and jaw-dropping offers. It comes armed with strong security features and is available on simple eligibility terms.

The simplest way to go about your credit card application is to first check your pre-approved credit card offer from Bajaj Finserv. Doing so gives you instant approval, access to customised deals and a chance to win up to 20,000 reward points as a welcome gift!