Today in this article I’m going to tell you about the benefits of credit card in india, which will help you understand why having a credit card is very important in this digital age.
A credit card is like a savior. credit card is a great way to deal with your financial crisis. It enables you to get an emergency fund, purchase, and repay a large amount as well. The best part is that credit cards are globally accepted and give you financial freedom if used in the right way.
This article is going to be very helpful for everyone wheater you’re a working professional, business owner, entrepreneur, student, etc.
Most of the population doesn’t even know why we use a credit cards. So, for them let me explain in brief first what is a credit card.
What is a credit card?
A credit card is a type of credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit. It enables customers to make purchase transactions on goods and services.
The credit card limit is determined by the credit card issuer based on factors such as income and credit score, which also decides the credit limit.
if we talk about how it looks, it looks the same as a debit card. The credit card information includes the credit card number, cardholder’s name, expiration date, signature, CVC code, etc.
Benefits of Credit Card in india
There is some survey that shows a few years back how the number of credit card users is increasing tremendously & it is just going on. majority of the population use-to debit cards they don’t aware of credit cards and their benefits.
As per the report of statista.com, you can see the how users of credit card increased gradually in last 10 years,
even the forecast the number of credit card user in India by 2025.
There are some credit card benefits I have displayed in the bullet points below that you can see.
- Convenience
- Rewards, Discounts & Special Offers
- Interest-Free Card
- Safe & Secure
- Recurring Payment
- Credit Score
- Online Purchases on domestic/international
- Travel perks
- Insurance on credit card
Note: If you want to read this article in more detail then please go here, Top 9 Best Benefits of Credit Card In India