Why Should You Get a Credit Card? With a world that is heavily reliant on technology and the conveniences it brings, it is no longer a secret that some of those “old” and “traditional” things we were dependent of in the past are not as important as they are these days. For instance, more and more people are ditching cash in making purchases and paying for services in favor of the credit card. Because you’re reading this article, it means you probably still don’t have a credit card with your name on it. Other than using the tool for paying all sorts of stuff, the credit card can likewise be connected or linked to online money transfer accounts like PayPal for online shopping and transactions. The common credit card is made up of either plastic or metallic alloy, while the newer ones can be made from graphite, too. It contains information and proof of the existence of a financial account made in the name of the individual who’s using it. The usual details include the account number, name of the owner, or the business name where the card is registered to. If one is to define it literally, the credit card is merely a type of financial account. While the traditional way of spending works by way of you paying cash for a product or service, the credit card works by using the bank’s money to do the usual purchase of a product or service. The convenience lies in the fact that you can spend as much as you want even if you don’t have cash, although you’ll be paying for the amount you spent later on and with interest.
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The bank will then list all your credit card purchases and sends you a bill every month. You then will have to pay the full amount once the due date arrives, although it’s no secret that most credit card holders will only pay in partial, prompting the bank to charge for extra fees.
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Benefits of Having a Credit Card Many critics of credit card use argue that there is way too much risks involved in owning one, but the fact remains that it still comes with a boatload of benefits. For one, it is way safer and secure to use credit cards compared to debit cards because credit card companies have a very sophisticated system of defending and protecting users from fraud and theft. Also, if you purchase a product using your credit card and later on you encountered a problem with the place where you bought it, you can easily go to your credit card company and tell them to reverse the charge. Finally, credit card companies often provide users with rewards and promos that will allow you to make savings possible even while you’re purchasing.