There are millions of credit card users across the country, but there are many people who do not know what benefits they get from credit cards.
If you are also a credit card user and want to know about the benefits of this card, then this news is for you. We are going to tell you what are the benefits of a credit card which you can easily use.
Term insurance or accidental death cover is available on credit cards.
You get many benefits from credit cards. Term insurance or accidental death cover is available on each bank’s credit card as per its category.
There is no need to pay any separate premium for this.
A grace period is given on credit card
On different credit cards, you are given about 45 days to repay the money after the payment is made. Whereas, if you had paid by cash, you would have had to pay the money immediately and even if you had paid online, the money would have been deducted from your account immediately.
You can improve your CIBIL score with the help of a credit card.
The transaction done through a credit card is a kind of loan and if you keep paying its bill from time to time, it improves your credit score. If you have a good credit score, you do not face any problems in taking a loan. Credit cards are a cheap and convenient way to build your credit score. Apart from this, credit card holders can also easily get pre-approved loans in case of emergency.
Benefit from reward points and discounts
You also get many reward points and discounts on credit cards. Many banks also offer benefits of cashback and gift cards on their credit cards. You can book everything from shopping to movie tickets with the help of a credit card at a low cost. Apart from this, there is no need to pay fuel surcharge on fuel payment through credit cards of many banks.
Buy now pay later facility is also available on many credit cards.
Online shopping apps and e-commerce websites like Amazon-Flipkart also have offers on credit cards in many sales. Many times the facility of Buy Now Pay Later is provided so that more and more people buy the goods. With its help, people can go shopping easily and can also repay the money later. But in this also a credit limit is fixed, beyond which you cannot shop. If you do not pay on time, you have to pay a penalty in both cases.
If you make all your payments using a debit card, now you can use a credit card. If you keep buying something through online shopping, then you will get many benefits from this card and you can also get cashback along with reward points. In this, you can also get the facility of no-cost EMI.
