Advantages of having credit cards

Using credit cards can be only beneficial when you stick on buying for only those things that you can pay off every month. Credit cards can make you save money for a long time and can be beneficial. Some of the most common advantages of credit cards are as follows.

Paying for purchases over time

You can now purchase a thing using a credit card while you pay off your credit card balance later. The majority of the issuers offer you a grace period in which you do not need to pay any interest charges. Usually, the grace period starts from the date on which you have purchased the billing cycle in which you bought, and it ends when your payment is due.

Convenience 

Payment through credit card (cartão de crédito) is more convenient than any other payment method. You get a statement every month regarding when, how, and where you spent and made a purchase using your credit card. This statement can further be used to keep a record of your spending. Another feature that credit cards have is that they offer year-end reports that determine your expenditures throughout the year. The year-end statement can be beneficial for taxes and some other tracking purposes.

Credit cards can be a secure method while online shopping, as you cannot pay cash while purchasing online. However, your debit card or bank account information is safe while using a credit card.

Free credit scores

Credit cards offer free credit scores as an additional benefit. Several credit card companies mention your credit score on your monthly credit card statements. Some other credit card companies let you see your credit score from the bank’s website. However, Lambridis says that checking your credit card score through your credit card cannot damage your credit card score.

Price protection

Using a credit card for the payments can sometimes be beneficial in a way that it protects the price. Sometimes you buy a thing, and after some days you see a decline in the price. As long as you have a card that benefits you in protecting the price, you can be protected from future losses. It also refunds the difference between the high price that you have paid and the lower price by following particular steps. This feature is being removed from some credit cards; still, it is offered on some cards.

An extended coverage

Credit cards can be beneficial when you are making a purchase of an expensive thing having a manufacturer’s warranty as the credit cards have a feature that offers an extended warranty that protects your purchase. Extended warranty can repay you, or you get the item replaced or repaired if it gets damaged even after the manufacturer’s warranty has been expired.

Travel benefits

The credit cards offer countless benefits that can make you save money during traveling. The advantages include trip cancellation, luggage delay insurance, trip delay repayment, auto rental collision damage waiver, free access to the airport lounge, travel statement credits, a free checked bag, and countless other benefits.

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