subject: Why Credit Cards Are Useful For Your Money [print this page] With the world fast leaning towards auxiliary modes of payment, the pounds and pennies are taking a hit. Electronic payment modes are simpler and more efficient than paying cash. we have reached that point in time where retail stores and fast food joints give you a second look if you pay by cash.
Ultimately, it is no surprise that credit cards are better than cash. The use of credit cards entails a little bit of interest, but it gives you a degree of financial freedom that cannot be obtained with any amount of money in your wallet.
Security
It is common knowledge that not everybody goes around to retail shops with wads of cash in their wallets. If at all you are making a huge purchase, it would be better to swipe your card at a store and pay the amount later to your credit card company. Credit cards are typically safer than cash because you can report and stop payment on a lost credit card.
Credit
The term credit indicates a bit of financial freedom. If you are prompt at making your payments on time, chances are that you will have built up a good amount of credit limit. Purchasing a new TV or refurbishing your house does not have to wait till you have amassed enough money for the operation. Even if you do not want to be burdened by debt, it would be a wise choice to go for a prepaid credit card.
Rewards and tracking
With a credit card, a monthly statement is generated which enables you to find out where your money is going. Cash payments are the hardest to trace unless you happen to be a perfectionist. Further, the best reason why people should use credit cards is that it generates money.
Rewards points, discounts and coupons are the different benefits of using your credit card. If you compare credit cards, youll be able to find out which credit card offers the best rewards.
