Published On: Sat, Mar 4th, 2017

Why Should You Have a Credit Card?

Any modern person can no longer do without a credit card; it is the account that holds their salary, social benefits, or scholarships. So if a person doesn’t have this account, he doesn’t have money. Benefits of keeping money with the bank and paying for goods with a credit card are well known today. That’s why almost everyone has a credit card. But how to use this card in a smart way in order not to overspend money but to generate a capital instead? These are the questions we are going to answer in this post.

Where to Use a Credit Card

With the help of a credit card, you can make non-cash payments in trade and retail network, pay for purchases in shops and virtual platforms, and use cash by withdrawing money from ATMs. In other words, credit cards can virtually pay for everything, everywhere where there is a terminal or ATM.

By the way, there is a nice incentive for those who pay with credit cards. With a cashless transfer of money, the card owner can get a kind of bonus – cash-back. This is the accrual of a certain percentage for the purchase made with the card, a refund for a service bought in retail outlets or bank partner companies. Cash-back can vary between 0.5-5% of the value of the goods or services; you can also use service to generate some profit from spending money. Some credit cards offer travel points which you can learn more at Some banks charge higher commissions for services or substantial interest on the loan for the balance of owed money, so a similar refund system for purchases will be completely canceled a mandatory fee.

Paying for goods and services in the Internet is very simple if you have a credit card; you just need to specify the 16-digit number on the front of the card and a name of a card holder. Please, note that making payments on virtual platforms never asks you to submit a CVC2 code!

How to Use a Credit Card in a Profitable Way – Expert Advice

A credit card has become a real “magic wand” to solve some complex problems without falling into debts. And there are some “tricks” to make your credit card even more effective. For more profits associated with the card,

  • Ask for too the extended credit limit. Of course, the bank itself does not give a large sum for your usage, especially if the applicant was not a client of the bank before and has not had time to recommend yourself as a reliable borrower. Your financial situation can change overnight (due to job loss, illness of close relatives, etc.). It is better if the card user does not have excessive temptations, and the credit limit will not exceed the average monthly salary;
  • carefully calculate the grace period and try to cover the debt without interest;
  • use a credit card only for non-cash payment, payment for goods and services via the Internet (cash withdrawal at an ATM, as already mentioned, is accompanied by a significant retention of the commission);
  • use a standard credit card and make purchases in retail outlets of bank partners taking advantage of the bonus accrual percent cash-back.
  • connect your bank account with your mobile to make constant control of your account balance.

If you follow these simple steps, you will definitely benefit from using a credit card to the full!

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