With the government encouraging citizens to go cashless, it is only natural that more individuals are now switching to credit cards, debit cards, and other forms of e-transactions than ever. Further, while the latter only makes digital transactions possible, the former comes with multiplied benefits. The several credit card benefits include easy EMI conversion of big-ticket purchases, emergency loans, earning accelerated reward points, especially with online transactions, and many more.
Not only can you use credit cards for everyday purchases, but also spend on occasional expenditures to enjoy increased savings. Also, as a debt instrument, a credit card can be a valuable tool in enhancing your financial profile when used rationally. You can also learn how to transfer money from credit card to bank account for payments that do not accept credit cards or require immediate cash.
Advantages of using a credit card online
Check out some benefits that come with using a credit card online.
Card issuers offer attractive reward programs on making online purchases with specific partner stores or merchants. The reward program can include reward points, frequent flyer miles, gift cards, vouchers, discounts, and more on a range of transactions that can be utilized to avail future savings. Also, specific cards offer two times the reward points on online purchases than otherwise. If you are new to the world of credit cards, you should know how to use a credit card wisely, to gain maximum benefit from these cards.
Acceptance across platforms
One of the major credit card benefits is the fact that it can be used to make purchases at almost every platform, which may not be possible with every debit card. Whether making online transactions within the country or overseas, most credit cards allow such payments.
Nevertheless, to gain access to funds in cash, you must know how to transfer money from credit card to bank account or avail a card that offers interest-free withdrawals from ATMs.
When you pay with a credit card, it is easier to prevent losses and frauds in general. If the debit card you use is stolen, money from your accounts can be instantly debited with no recourse to funding recovery unless resolved.
With a credit card, however, since they offer zero liability cover for unauthorized transactions, you could simply notify the company of such transactions and have your card blocked to prevent any further breach. Also, features like in-hand security make card tracking easier and reduce the chances of loss. If you do not own a credit card yet, learn how to apply for a credit card online in 3 steps to enjoy such benefits.
Scope for EMI conversion
If you intend to make a big-ticket purchase and wish to defer such payment, then you can always do so with a credit card’s EMI conversion facility. As most credit cards offer the option of converting big-ticket purchases into monthly installments, you don’t have to pay the total amount instantly. Also, paying through EMIs can sometimes be cheaper than taking out loans to pay for a big purchase. Usually, cardholders avail such facilities when purchasing electronic products like television, air conditioner, etc.
Card also comes with accelerated reward points, discounts, and other perks for user benefit. Customers also get to experience additional credit card benefits like quick conversion of available credit limit to emergency loans and easy repayment in EMIs.
Alongside this, the card issuer also provides pre-approved offers to make financing hassle-free and time-saving for customers. These offers are available on a range of financial products, including credit cards, personal loans, and business loans. You can check your pre-approved offer online by filling in some essential details.
The points discussed above indicate how credit cards could turn out to be your preferred mode of payment for online transactions. Also, a disciplined approach to using credit cards allows cardholders to enjoy several benefits and save a substantial amount on all purchases.