What happens when your cash gets stolen? You are unlikely to ever see that cash again. But if someone steals your credit card, you can report it instantly to the card issuer and apply for a new credit card. Also, in these cases, your hard-earned money isn’t at risk. Besides, with highly efficient chip technology, it’s quite difficult for anyone to steal your card data. Here are some more reasons why it’s the safest to use credit cards for payments.
1. Limited to no liability of fraudulent charges
If you find charges on your credit card bill that were unauthorized transactions, you can dispute the charges right away and file a complaint. Your card issuer will investigate the issue and try to reverse the charges as soon as possible. So, you don’t have to worry about any liability for fraudulent card-based transactions.
2. Dispute charges on damaged purchases
If you do a lot of online shopping, it’s highly safe to use a credit card for transactions. In case your item arrives in a damaged condition or never arrives at all, but by that time you’ve been already charged on the purchase, you can instantly dispute your charges. Your card issuer can not only reverse such charges but also withhold the funds from the particular merchant.
3. Benefit from credit card reward points
Go for a credit card that offers reward points on your card-based purchases, without any charges or expiry date. You can redeem these points to buy gift cards and vouchers at merchants or, if your card offers, earn real air miles. Don’t just accumulate them for great savings but also keep availing of the limited period offers.
4. Get cash backs on credit cards
If you use a cashback credit card, you can receive offers on certain online purchases to get back a percentage of the money that you spend on a purchase. You can also keep an eye on any discount offers that keep popping up. To enjoy more of these benefits, you can simply shift some of your purchases online.
5. Track your card-based expenditure
When you go out shopping, it’s hard to keep track of how much you’re spending, especially if you spend a lot at a time. But credit cards come with complete expenditure tracking to help you avoid going off-budget and foster a healthy purchase habit. Moreover, travelling with bundles of cash isn’t safe. Cards are easy to carry anytime, anywhere, for any type of financial transaction you need to make within your credit limit. Some banks don’t even charge over-the-limit fees for hassle-free spending.
Some card issuers also offer lifetime free cards, low-interest cards and interest-free cash withdrawals to facilitate card-based payments even more. Get the best card that comes with such benefits.