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Credit Cards vs Cold Hard Cash


The security benefits of using credit cards have long been recognised. Even with the extra attention that is being placed on identity theft and credit card fraud these days, using your credit card is still one of the safest ways to pay for things available.

All credit card companies will provide you with an emergency number to call if your card is lost or stolen and in the vast majority of cases, any loss that is incurred by your account will be fully refunded by the card provider. This will always be the case unless you are somehow involved or to blame for the fraud, such as by giving out your security details to someone you shouldn’t have trusted. This means that even if your cards and information are stolen, you generally have nothing to worry about so long as you report the incident. Replacement cards can be sent to you very quickly.

Another benefit of credit cards over cash is that you can use them with ease abroad. They are fast becoming an internationally recognised currency. While cash will be accepted everywhere within your own country, credit cards are accepted at a huge number of locations all over the world. As soon as you step off a plane, and especially if you are travelling through a number of countries, a credit card will be an invaluable means of payment everywhere you go.

Another huge benefit of credit cards, that is really only beginning to show itself with the growth of Internet shopping, is the ease with which payments can be arranged online. There are thousands of websites now, all over the world that will conduct business with you and give you access to great prices if you have a credit card to pay for it. Gone are the days when cheques would be mailed in the post. Now, with new payment systems such as pay pal, even individuals can accept credit card payments with great ease and for very little expense. You should take care with your personal information and payment details however, and conduct business either via an intermediary such as pay pal, or only with companies you know you can trust.

The disadvantage of credit cards is that they can cost you money. You pay interest on balances that you carry from one month to another and if you do use your credit card abroad, you will have to accept additional charges from your card provider.

Managing your finances is a huge task you need to do. By managing your finances properly, you can avoid burning substantial money on something that is really not useful. Managing your finances can also help you make your financial status more stable. With these, you can make your life better.

When it comes to managing your finances, one of the options is to get a credit card. This option provides a lot of benefits to many individuals. For one, yous do not need bring a huge amount of money in your pocket when shopping. This means that you will also feel safer and more secured against theft. But in order to obtain these benefits, you need to first find the best credit card provider that can cater to your needs. Here are some factors you need to know.

Compare interest rates

There are lots of banking institutions that offer credit cards. Therefore, one way of choosing is to compare their interest rates. Interest rates vary depending on the institution you choose. So, it is vital to carefully assess the interest rates of the banking institution before signing a contract.

Balance your salary and credit card

You also need to make sure that your credit card will match your current salary. Balancing your salary to your credit spending is needed to ensure that you have the capacity to pay for your credit card each month. Luckily, there are reputable banking institutions that offer different types of credit card to accommodate your needs and complement your lifestyle.

Evaluate other fees and charges

Other than interest rates, there are other fees and charges you need to deal with when getting a card. When you want to transfer balances, getting a balance transfer card is ideal since it offers a low introductory rate on balance transfers for a period of time. By knowing other charges and fees, you can make better decisions when to make use of cards.

Know more about reward and freebies

Finally, you also need to determine the rewards and freebies the card company can offer such as VIP lounges at airports all over the world, world-class fitness centres, and free concierge services up to free air miles and cash back privileges.

By knowing these factors before getting a credit card, you can be sure that you can choose the best option that can help you make your lifestyle better and more efficient.