5 Reasons Why Credit Cards Are Preferred Way to pay
Credit Card (Photo credit: 401(K) 2013)
The advancement of electronic payments has revolutionized the way people spend money. However, with debit cards and mobile payments, people have forgotten the advantages of credit cards.
If you pay the amount on time and pay off the outstanding bill every month, credit card is the smartest way to pay the money. Let’s look at some of the advantages of credit cards.
Easy Dispute Resolution: A credit card proposes broad protections in the case your card is used in for fraudulent transactions. It has a well-established dispute resolution process and liability limits. Also credit cards allow you to carry correct purchases. The credit card companies will instantly credit your account for the unclear amount until the clash is resolute.
Better Cash Awards: Debits card offer rewards game but it was mainly started by credit cards. Credit cards have good perks for regular users. From cash to airline and other benefits, one can expect 1 to 2% spending back of the money. It is in the form of rewards and if you purchase gas, petrol or travel on card, you can expect better rewards.
Car Rental Insurance: There are credit cards that offer coverage over damage and loss of a rented car. This means you save a lot of the insurance premium that you have to pay. The credit cards unique car rental insurance is a solution for existing insurance coverage and acts as a backstop for such premium covers. Generally a damage waiver often cost you $25 to $30 per day and credit card insurance is cheap and better option which can be best money saver if opted.
Travel Perks and Protection with credit cards: Apart from car rental insurance credit cards also offer travel related perks. For instance, if you buy a trip from your credit cards, you get covered for cancellation and interruption. You may be either reimbursed or you may be paid extra to complete the journey.
Other benefits of credit cards include trip-delay coverage and pay for meals in the hotels. It also pays for lost baggage. Some credit cards also offer protection on roadside assistance and cover up your medical bill.
Protection on Purchases: Credit cards offer protection on numerous other programs. There are programs like price protection that will refund all the money if you find product on lower price than the offered price. Some cards also reimburse you the cost of a replacement if it is lost or stolen. Some cards also offer money back if the things are broken. In whole the credit cards provide extra benefits that you won’t find elsewhere. So from now don’t think of serious question like how Obama’s budget affects retirement. Most of the payment methods are reliable and beneficial, enjoy the life.
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Category: Credit Cards
