TOP 10REASONSTO GET ACREDITCARDMany people are scared by the idea of getting acredit card. However, if used responsibly theycan offer a lot of benefits.
1. Fraud ProtectionCredit cards tend to offervery good protectionagainst fraud. Mostcompanies have fraudprevention departmentswhich look for tell talesigns that someone’saccount is being accessedillegally. 2. Emergencies Most of us tend not to carry a lot of cash on us. However, life occasionally throws up situations where having access to funds can make a big difference.
3. Lessening the impact of loss/theftIf you’re robbed or loseyou wallet it’s unlikelythat you’ll get any of yourcash back.However, lose a creditcard and most companieswill send you out a newone without it costing apenny. 4. Booking things If you want to book a hotel room or hire a car it’s common for companies to only accept credit cards. Having a credit card may mean that you don’t miss out.
5. Boosting Credit RatingHaving a healthy creditrating can be a major helpat some points in life.Especially if you want totake out a loan or get amortgage.Having a credit card andmanaging it well can giveyour credit rating a boost. 6. Rewards It’s common for credit cards to have bonus schemes which reward customers for using their cards. Sometimes it’s even possible to get rewards on top of other deals such as offers on 0% credit cards.
7. Buyer ProtectionMost credit cards offer adegree of protection ifyou have orderedsomething and it neverarrives e.g. the businessthat sold it to you goesbust. 8. Convenience when travelling Credit cards are one of the most hassle free ways to pay for things abroad. Many companies even offer cards which are particularly suitable for frequent travellers.
9. Keeping track of your spendingWith a credit card you geta detailed statement of allyour spending on it.This can be really usefulwhen it comes to figuringout your expenditures andbudgeting. 10. Insured purchases Many credit card companies automatically insure purchases against loss or damage for a limited amount of time. This could come in very handy if you bought a big new TV and dropped it on the way home.