On the bright side of credit cards



The use of credit card for purchases is a trend. It may have caused good effects to others and bad to some. Well maybe all these things would depend on the user, if he/she knows the proper way to use it. He or she will manage to enjoy its different advantages. So looking at the brighter side, let us enumerate these one by one.

Using a credit card is of no doubt a convenient way of paying and provides safety to the user for one need not to carry on cash whenever you need to buy something especially the expensive ones. Therefore, it takes away the fear of losing your cash for some other reasons like theft or carelessness. It also offers a protection under the Consumer Credit Act wherein you could get your money back whenever it is used on a fraudulent purchase after you have reported of its lost or theft. Some credit card companies give incentives, freebies, or special privileges to the users of their card. For example, you could earn “air miles” for every purchase you made and when you have earned enough, you could travel for almost free. Also gives cash rebates on purchases like common annual savings of 1% on all purchases which you can claim by receiving credit on your bill or a rebate check; gas rebates; store and restaurant discounts; and some seasonal rewards for the cardholder.

Cardholders can also exercise their “Stop Payment Rights”, in the event that an item you have purchased is never received or has been broken, or maybe you bought a plane ticket from an airline, which then subsequently declared bankruptcy; you can contact you credit card issuer and initiate a stop payment on that item or product.

For those people with bad credits, this is also a chance to regain a good credit reputation. Just being a good and responsible credit card holder who pays timely while help you restore your credit standing. A good rule of thumb is to prevent spending more than 15% of your available line.

By also using your credit card, you are helping an approved charity, because the companies are giving back a percentage of your purchases thus making a nice tagline of “helping while shopping”.

These are just some of those many advantages. If you are a smart and wise holder, all of these privileges and freebies are yours. So spend wisely!

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