Be Worry-free When on a Shopping Spree with a Credit Card | Fusion - WeRIndia

Credit cards have redefined the shopping experience. Managing your finances has become convenient with the expanding use of credit cards. However, with power comes responsibility. The primary credit card usage principle says, ‘buy now, pay later,’ works well, but only if you act reasonably and do not overspend to cause financial worries.

Having a credit card means that you have enough funds to pay for any emergency, as well as regular needs. It is a useful product that enables you to make everyday purchases and expensive items such as electronics, travel tickets, and jewelry.

Here are some of the many perks of using a credit card:

• Convenience

In India, people are moving on to use cashless facilities to pay for various things in life. In combination with digital wallets and even otherwise, credit cards are more popular than ever. They reduce the need to carry cash every time you go shopping. It is an alternate for cash, which eases the payment process. You can simply swipe them at a point of sale machine or use them online to make payments. Another benefit of using credit cards is that it lets you buy products on low-cost EMIs without disturbing your monthly budget. They also give you purchasing power both locally and overseas.

• Lesser Risk of Theft

While making all payments in cash, there is a slight risk of losing your money. Once stolen, you may not get your money back. However, using credit cards comes with a lower risk of money loss. Most banks also have security procedures in place to protect you if your credit card gets lost or stolen. You can quickly cancel your credit card if you lose your wallet. If you’re in any such situation, make sure to contact your bank and report the same to avoid further breaches.

• Rewards

While shopping, you always look for discounts or offers. When you use a credit card, you can earn cashback on your day-to-day purchases at supermarkets, gas stations and even departmental stores. If you like to travel, credit cards also offer flights, hotel stays and car rentals at a lower cost as per the tie-ups of banks with diverse companies.

• Credit Rating Improvement

If you have a weak credit report, a credit card can improve it by helping you build financial discipline in life. Paying off your credit card bill each month timely will also improve your credit report. So, you can keep shopping without worrying about your credit rating. Furthermore, it will show to the lenders that you can borrow money responsibly. A good credit score will build your worth to get loans in the future.

• Works in Any Currency

Most of the credit cards offered by leading Indian banks are not limited to purchases in India only. Depending on the limits of the card you have, you can make purchases in foreign countries without any hindrance. If you are travelling abroad, then having a credit card can be a safer way to go shopping and make purchases.

G0 Cashless with a Credit Card

One of the smartest ways to continue your love for shopping is by using a credit card. It also makes sure you do a safe transaction and provides benefits, including cashback and rewards

on your spending. Credit cards from reputable financial institutions such as Axis Bank offer features such as complimentary air travel, discounts on food and entertainment and even insurance benefits. Applying for the right credit card is essential. So, make sure to compare various offers online to maximize the benefits.

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