Benefits of Credit Cards

A credit card is an easy and convenient alternative to cash. They also help in times of emergency but the benefits of credit cards go way beyond just convenience. In this post we will tell you how to reap the most from your credit card.

Convenience and flexibility

Let’s further elaborate on this point. You can use your credit card virtually anywhere it is accepted wherever in the world you are. If you’re short on cash at a restaurant or shopping in Paris, simply pull out your credit card and you’re covered. They are also very handy when it comes to those unexpected or emergency costs because it allows you to make a significant purchase and pay the balance later. Replacing or fixing a broken appliance comes to mind…

It helps your credit rating and helps you save money

Regular and responsible use of your credit card can work wonders for you financially. By using your credit card frequently and making your monthly payments on time, you can build a solid credit history that tells potential lenders you can be trusted. If you choose to accomplish big financial goals in future such as qualifying for a loan or a mortgage, your chances will greatly improve because of your credit history. With a high credit rating you may qualify for low-interest rates on these and other big-ticket items down the road, which could save you money.

Online Security

Online shopping has been made safer thanks to modern security and fraud measures. Credit card transactions are closely monitored by banks for fraudulent activity, so if you check your statement online and see any suspicious transactions you can immediately report it and your bank will take care of the rest. Additionally, credit cards are safe to travel with abroad; if it gets lost or stolen internationally you can report it missing and be issued with a replacement card.

Earn great rewards

There are many extra benefits that you can receive with your credit card that you don’t get with using cash. You can earn points which can enable you to get discounts off your favourite stores, travel miles that you can use for a future vacation, and getting cash back off your purchases to name a few. When choosing your credit card you can consider the rewards that will benefit you most.

Peace of mind when traveling

Some credit cards offer benefits such as travel and emergency assistance or other travel-related features. Chchipcardseck the reward benefits of your card to see what travel advantages are available.

Want to find the right credit card to match your lifestyle and interests? We have a vast array of credit cards along with their related rewards here at First Citizens. Click here for more information.