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5 Reasons why Having a Credit Card is a Must -
5 Reasons why Having a Credit Card is a Must
Guest Author | Published: 09 Oct, 2017  | Source :


Credit is good if used wisely. Many individuals purchase items or avail of services using credit. The main reason for using credit on a bank card is that you do not have to pay hard cash. Besides, you do not have to bear the burden ofpaying a fee if the bill is settled within the billing cycle.


Due to the numerous benefits of a credit card, many are now opting for the same. Following are five reasons to opt for this plastic card:


1.       Easy access to credit


The major advantage of utilizing such a card is its easy access to credit. Unlike a debit card, you need not have a certain balance in your account to make a purchase. Instead, you may swipe your card and pay at a later date. Banks also provide cash advances and hence you may avail of cash when you need it the most.


2.       Ability to build line of credit


Banks and Non-Banking Financial Companies (NBFCs) check your credit score before approving your loan application. This credit score, provided by Credit Information Bureau (India) Limited (CIBIL), is calculated based on your repayment of loans and card bills. Timely repayment of your bills will help you build a line of credit, thus increasing your chances of getting a loan approval.


3.       Numerous offers and rewards


Banks give numerous credit card offers, loyalty points, incentives, air miles, rewards, and cashback programs for holders of such a card. You may avail of offers and discounts on purchases made through your card such as holiday booking, flight booking, or electronic appliance purchase, besides others. This helps you save a significant amount of money. Besides, you may redeem the cashback or the reward points and pay your outstanding dues.


4.       Utility bill payments


Another advantage of using plastic money is the ability to pay utility bills through the Internet. You may make a payment towards your gas bill, water bill, or electricity bill through your card. Such a payment option offers a great degree of convenience and flexibility. You may also avail of the benefit of the automatic option, wherein you may schedule payments on a fixed date every month.


5.       Installment facility


You may wish to make huge purchases but may not have the required cash in hand to do so. Utilizing your lifetime savings will leave with little or no cash for future contingencies. In order to resolve this issue, you may utilize your card and avail of instant credit. What’s more is that you may pay off the amount in Equated Monthly Installments (EMIs). This avoids any strain on your current finances and helps you repay over a period of time.

Keep the aforementioned benefits in mind and get a credit card Using such cards help you save time and the trouble of searching a nearby Automated Teller Machine (ATM). Besides, making transactions through a card, instead of cash, will indeed transform India into a digitally empowered country.


So if you want a credit card, apply for it now!


About Guest Author
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