Why One Should Use a Credit Card for Buying Everything

DUBAI, UAE – ARAB NEWSWIRE -- A credit card can be a highly useful financial instrument to carry out day to day expenses. Typically, they come loaded with rewards and offers that make them ideal for regular spending. Some cards even provide points on every spending done locally or internationally. One can redeem the accrued points to offset purchases without having to spend anything extra from the credit limit.

To know more and to get the best credit card in the UAE, one can check and compare the different types of credit cards that are provided by different financial institutions.

Perks of Using Credit Cards for Everyday Purchases

 

To know more reasons why applying for a credit card may prove to be beneficial, check the points below:

Credit Cards Are Safer to Carry and Use

 

Carrying a credit card may be way safer than carrying a lot of cash in the wallet. If one's wallet is stolen or misplaced, there are chances of the cash getting misused too. However, when it comes to credit cards, one can inform the bank about the stolen or misplaced card immediately so that the bank authorities can take the necessary action. Banks will also not charge the individual for any expenses incurred on the card thereafter.

Credit Cards Help in Building Credit Score

One can not only use a credit card to carry out transactions but also to build a good credit score. A credit score is a three-digit number falling between 300 to 900. Banks check the score to determine how likely one is to make payments on time. Any score above 900 is considered a good score. With a good credit score, it may be easier to access several banking facilities. For instance, if one wishes to apply for a loan and has a high credit score, then his/her chances of getting the loan approved quickly are higher. However, to build the score, it is necessary to use the credit card smartly and to always make timely bill payments.

Credit Cards Help One Get Cashback

Most credit cards offer cashback for every spend. So, when one makes retail purchases with his/her cashback credit card, then one may end up receiving a percentage of the transaction as cashback. Some credit cards also offer rewards points and air miles. One can collect these points and redeem them for several types of purchases including air tickets, hotel stays, and more.

Credit Cards Help Track Spending

Credit cards allow one to keep track of their expenses. One can check his/her account to know where the funds have been spent. Many issuers also categorize the spending as per merchants. For instance, if one has utilized his/her credit limit to pay for food bills in the month of October, then those transactions can appear under the category of food and beverages. By checking his/her spending in real-time, one can organize and budget their expenses, if needed.

Conclusion

The above-mentioned points are only some of the benefits that credit cards can offer. To get the maximum benefits and reward points, one may want to get a credit card that matches his/her spending. And to choose one, he/she may also look at the wide range of credit cards that are offered by different banks. Before applying for the best credit card in the UAE, it is also advisable to check the eligibility criteria and features to make the most out of it.

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