A Comprehensive Guide to Credit Card – How to Apply, Who Can Apply and More

    It is a form of payment card that is issued to the users who want to pay their bills to the merchant instantly for purchasing their goods. They ease the payment of the card holder without the need of going to ATM for withdrawal of cash. One can lend money on Credit Card and even pay their debt using the same card. There are various purposes of credit cards. Some use for shopping online, pay their non-medical bills, international trading or whenever they are in need of urgent money they can swipe their card for instant money transaction without the need of keeping hard cash ready in their pocket. It offers several benefits to the cardholders than the debit cards. However if not used properly will make you fall into serious debt traps within no time. It is somewhat termed as plastic money that is ready to use on anytime.

    What is the need of Credit Cards?

    • One can use these credit cards for various purposes. They are useful to increase the credit score in your account to stabilize the financial health on various fronts. The individual should spend only 40% of the credit limit to pay the bills on time without any dues. This helps to maintain good credit score that makes you eligible for any other future loans while buying a house, vehicle or face any medical emergency.
    • There are several cards which allow you to benefit the travel perks like accessing the airport lounges in both domestic as well as international ones. While there is any delay in your flight, one can utilize this card to swipe for a lounge instead of seat, refreshments and WiFi. Sometimes you can avail discounts on your air tickets with selected airlines. This again may be useful for domestic as well as international air ticketing. Sometimes the reward points get converted into air tickets to make your travel free of cost.
    • The customers should avail only those type of cards which meets with their standards and lifestyle. They are utilized according to the user needs and come with a validity period and one should utilize them before they get expired.
    • One can use this card for making big-ticket purchases based on EMI’s so that your finances are not disturbed and you can enjoy your vacation abroad hassle free. There are many merchants who offer no cost EMI and you may not be required to pay any interest on the card used.
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    News Reporter
    • 10+ years of experience as a freelance commercial writer
    • Expert in marketing and public relations
    • She has written extensively about financial issues