6 Reasons why you should use a Credit Card

Credit cards are not a desire now but a need these days, especially if you own a house or car. There are 5 reasons to get a credit card and use it.

1. Reward Points

Credit cards offer reward points for purchases that you make. These reward points can be redeemed for gift vouchers or cash or can be used to pay part of your bill. Every credit card has a different feature of redemption. Getting reward points is a great way to make some money back off your purchases. Mostly reward points are valid for up to 2 to 3 years, so you don’t have to worry about their expiry soon. Moreover, you can accumulate thousands of reward points over 1 or 2 years and then redeem them for exciting gifts.

2. Cashback

One of the great features of credit cards is Cashback. Many cards offer up to 50% Cashback on various categories of purchases. What can be better than getting some money back while making purchases? There might be some conditions applied to Cashback, so make sure to read them before getting a card. For example, there might be a minimum transaction value of Rs.250. which means that you have to make a minimum purchase of 250/- to take the benefit of cashback facility.

3. Airport Lounge Access

One of the best features of credit cards is airport lounge access. This is one of the most attractive features and I recommend getting a hand on one such card. We all have waited long hours at the airport many times. We all know the agony and discomfort of sitting at the gate. All this can change with a credit card that allows airport lounge access.

There are many credit cards out there that provide free airport lounge access. Some have limited free access (like 4 or 6 per year), some have more and some have unlimited access. It depends on the type of the card and how much annual fee you’re willing to pay.

4. Dining offers/Movie offers

Entertainment takes away a big chunk from our monthly expenses. Going out for movies and dining can become way too expensive sometimes. Credit cards can ease out on your expenses. Many credit cards offer up to 15% off on multiple restaurants all over India. Just like dining, credit cards for movies are boon for getting discounts on movie tickets and getting more reward points for the ticket you purchase.

5. Easy EMI option

Easy EMI option is an useful option when making big purchases. You can switch your payment into EMI instantly. Make sure to check the interest rate that is charged on such EMIs. A high-interest rate means you will  always end up paying more. Many times, there is a chance that you can get No cost EMI deals on credit cards. With such kind of deals, you don’t have to pay anything extra.

6. Forex transaction

Credit cards can be utilised for making foreign exchange transactions. This is an amazing feature in case you need to make purchases outside India. Make sure you know the foreign currency transaction charges that apply on such purchases.