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. A very good and recent example is people leaning towards the use of credit cards instead of paying for goods and services using cash. Well, the reason why you’re reading this article is because you don’t have a credit card but you’re compelled to finally get one. 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. The card in itself has information that proves the legitimacy of the account holder’s right to use it. Information usually includes the account name, account number, and/or the business name to where the card is registered to. In the most literal sense, the credit card is actually just 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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For the bank’s part, it will be accumulating all your purchases made through the card and will in turn send you a bill once every month. You have to option to pay in full once the due date arrives or pay a partial amount, which in this case will force the bank to put some extra fees, or more like penalties.
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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 instance, using a credit card actually is safe and more secure compared to using debit cards because credit card companies are known to have the best line of defense against fraudulent transactions and theft. Another pertinent advantage is when you purchased something using your credit card and later on you met some kind of problem with the store where you purchased it, you can go ahead and go to your credit card company and ask 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.