Whenever you are stuck in any kind of financial emergency or you are completely cashless, you can always use a credit card. Credit cards are cashless digital modes of payment that come with a fixed credit limit that can be used for offline as well as online transactions. It comes with a fixed credit limit based on the eligibility criteria and is given by banks and non-banking financial companies. Credit cards can be used for small and big-ticket expenses. It is based on the credit limit that is available to you. There are many more features and added advantages given by the credit card issuer if you are able to meet the online credit score eligibility. Credit cards are an unsecured form of loan and need a good credit report in order to get a high credit limit.
Features of
credit cards
● Credit cards are completely cashless forms of credit that can be used for offline and online transactions. It is a digital card that can be swapped for transactions both offline and online. When you do not have cash, you can make any kind of purchase in offline mode or online mode using a credit card.Know How to Calculate Business Loan EMI Online
● There are referrals and reward points given on credit cards that you can redeem for offers, discounts, or even cash. These reward points can be redeemed for cash or brochures and vouchers from your favourite brands that you want to buy from.
● Credit cards always offer huge discounts and the additional advantage of getting extra tickets when you book your favourite movie or your favourite hotel. There are amazing discounts on dining options as well.
The advantages
of credit cards
Credit cards are good when you are completely cashless or stuck in a financial crisis. It can be used to pay your credit card bills or manage cash for the time being when you are in a financial crisis. It is always a safe way to carry funds with you without keeping hard cash, which can be lost or stolen.
Must Read :How Late Payments of Dues Affect Your CIBIL Report
Credit Card Eligibility
● Since a credit card is unsecured, you need to meet the credit score requirement in order to get the credit card. It is not only about getting a credit card; the credit limit is also decided on the basis of the credit score that you have. If you have a high credit score, it will be very easy for you to get a credit card with a high credit limit, which you can use for big-ticket expenses.
● When you start having a good income every month, you will start getting credit card opportunities and offers from banks and non-banking companies. You need to have a good income each month in order to manage and get credit cards.
It is important to have a good online credit score if you want to be eligible for a credit card. The credit card issuers always check the credit report before offering the credit limit.
No comments:
Post a Comment