What are the benefits of a credit card? - Letsdiskuss
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Posted 25 Jun, 2019 |

What are the benefits of a credit card?

peter radcliffe

financial Advisers | |Updated 05 Aug, 2019

1) Cashback: On online purchase, many banks offer cashback on credit card. Like online shopping, pay your bills, etc.

2) Reward points: Many credit card companies offer reward point on any purchase. You can collect all reward points and use as your convenience

3) EMIs: You can purchase anything on EMI, later you have to pay the installment of your purchase.

4) Grace period: Bank gives you a 50-day period to pay your all remaining dues.

5) Use during an emergency: You can use your credit card in an emergency like a medical emergency or other financial emergencies.

6) Builds credit history: Credit card is the best way to boost your credit score. Regular use of credit card and payback on time will help your credit score to increase 

Riya Sharma

Accountant | Posted 28 Jun, 2019

The benefit of credit card is that you can own a particular amount of money for a specific period of time that you have to repay but if you don't pay that you will have to bear a number of penalties that affect your cibil as well as financial position. So be careful while you have a credit card, it is advisable to consult with tax advisor after you have a credit card.

Glens Teward

@Glens | Posted 26 Jun, 2019

Credit cards offer many benefits that can make your life easy and provide convenience. The benefits that can be availed through credit cards are:

Secure Alternative to Cash

Emergency Cash

Increased Purchase Power

Interest-Free Credit

Reward Points

Credit Score

Premium Benefits

Premium cards come with additional benefits that are aimed to offer convenience to the financially elite. These benefits are:

Golf Program – Many premium credit cards offer complimentary golf rounds at golf courses around the world. The program can offer complimentary training session, entry fee, green fee, etc. any additional fee will be borne by the individual.

Concierge Services – Many premium credit cards offer concierge services to the user. The service can be used to make travel itinerary, flight and hotel bookings, gifting and in some cases make any legal wish of the cardholder come true.

Insurance – Few premium credit cards also provide insurance to the user. The insurance offered can be life insurance, air accident insurance, burglary insurance, etc.

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divya raletta

student | Posted 25 Jun, 2019

you can use money anywhere with or without the bank balance in your account...and after that you can submit your money.it is a benefit of credit card


IK Controls

Automation Control Panel | Posted 25 Jun, 2019


Beyond convenience, other advantages of credit cards include providing cardholders with the opportunity to build credit, earn rewards and cash back, and protect against credit card fraud. 

Sandeep Jain

Financial Advisor | Posted 25 Jun, 2019

A well-chosen credit card, suited to your spending pattern is the most beneficial financial tool you can avail. Apart from the convenience that it brings and risk-free transaction process, here are a few other benefits of credit card –

Helps build a healthy credit score

Having a good credit score (750+) is essential to avail loans, as it reflects your creditworthiness. Lenders look into an applicant’s CIBIL score before sanctioning credit cards and loans.
Credit cards are the most convenient option to increase the credit score of an individual. All that he/she needs to do is-

Make timely payment of credit card outstanding amounts.
Refrain from applying for multiple cards at the same time.
Keep his/her credit card expenses within 30-40% of the card limit.

Offers high reward points

Credit card transactions help you accumulate reward points. These reward points are available against almost all services and products bought. Such reward points can be redeemed against travel vouchers, discounts, gift vouchers, cashback, etc.

Provides additional perks

Apart from the welcome bonus and reward points earned post achieving a milestone, credit cards also offer additional perks like free movie tickets, complimentary access to airport lounges, etc.

Comes with superior security features

Considering the increasing cases of credit card frauds, going for the Bajaj Finserv RBL Bank SuperCard helps one avail benefits of robust safety features like In-hand security that prevent cybercrime threats.

Exclusive features

Opting for the best credit cards like Bajaj Finserv RBL Bank SuperCard offers individuals with industry-first features like interest-free withdrawal of cash from ATM. He/she need not pay additional interests on the amount withdrawn up to 50 days.

Additionally, one can also avail a loan by against the unutilised limit and enjoy an interest-free period of up to 30 days against a minimum processing fee.

Such benefits of credit card make it the convenient and best go-to option for all, considering the onset of the cashless economic scenario.