Credit Card benefits

Besides the obvious benefits of chip-and-pin, and being able to carry a powerful piece of plastic rather than an overstuffed, heavy wallet, there are many reasons why carrying a credit card can benefit you as a consumer.

Credit vs. Debit

If you’re considering switching from a debit to credit, but you’re unsure due to the many horror stories of people in debt and others spending then selling to make up the difference, allow us to make an important point: this is not as common an occurrence as the press would lead you to believe. Responsible attitudes to your money and finances can mean a credit card is actually a worthy investment, and you will be far more protected in your purchases as a result.

When using debit cards, our money is pin-free in most cases and directly tied to the bank, and thus the liability lies with you and you alone if you lose the card and someone else finds it. Debit cards, when found, can be used on most sites (Amazon, for example), by simply entering the digits already on the card itself. With this it’s possible to have thousands of pounds taken from your account overnight, and it’s not always a speedy process to cancel a lost or stolen card.

Paid-for Protection

However, with credit cards, you are completely 100% protected against this occurring. If someone steals your card, the same process doesn’t apply to purchases, and even if they do manage to take anything from your bank balance, it’s simply a case of calling your credit provider and telling them the purchases being made aren’t yours. Credit card companies have many staff devoted to dealing with lost and stolen cards being used for fraudulent purchases, and making sure you don’t lose everything is as simple as picking up the phone. You are also protected on a variety of other occasions, from companies going bust before your goods are despatched, to even getting your money back if you buy a product that then goes on sale within two months from the day you bought it. With this amount of protection, you’re saved the pain and inconvenience of losing out financially to sneaky sales and unstable online shops. There are no fees whatsoever attached to valuable services like these – simply shop, and know you’re safe.

Long-Term Rewards

The main reason most people go with credit cards is simple: they’re convenient. If you’re tired of constantly reaching for the calculator every time you spend more than the price of a meal, a credit card allows for short term loans, making regular purchases a lot simpler and more straightforward. In addition, many credit card companies offer incentives alongside your purchases, such as air miles, vouchers for related stores, and even cash back on purchases made. Being able to redeem these points for anything from money back to flights – saving you money in ways debit cards are not able to. The only thing credit card issuers require is financial responsibility on the part of the user – as long as the user is responsible with their spending, there never needs to be any reason for debt or worry about interest rates. With every credit card comes a variety of different benefits attached to it, designed to reward you for using your card to make purchases. One of these benefits, and one of the most common, is cashback, also known as a “cashback card”.