Today, many households in the world have not less than one credit card. Do you know why? Credit cards render a set of advantages over other ways of payment. There is of course a danger to overspend with a credit card or pay not only major interest but extra charges. But many cardholders simply use this banking product very wisely and can enjoy enormous benefits. These could be frequent flier miles, cash back or other rewards programs.
One of the most precious advantages of credit cards is their convenience. The world most famous and instrumental credit card types in terms of payment system are Visa, MasterCard, American Express, or Discover Card. If you have at least one of them in your wallet, it means that you have no need to run to the ATM or the bank for cash. Moreover, you may carry out all necessary financial operation directly from your office or home.
Top 5 Most Useful Credit Cards Features:
- Paying for mobile connection. Everyone agree that now people can’t imagine their lives without mobile phones gadgets. No matter if it is your old good Nokia or the latest model of IPhone, you may replenish your account with you card by sms, in mobile application or with cash after withdrawing it in the ATM.
- Internet Banking. A cutting-edge technology in banks operations. Given it a client absolutely free in any payments and transaction. All he or she need is access to Internet from any gadget or regular PC;
- Utility Payments. Have ever faced such a situation when have no money to pay for utilities on time and you electricity may be cut off for indefinite period. A credit card will help a lot in this situation providing extra means within the credit limit.
- Travel benefits. If you want to go on vacations with your special one, but have not enough money, just use your credit line. Be sure to pay back in one or two months, strictly in term of grace period. Thus you will not spend extra money because of no due interest. Some joint programs with banks provide for a free night while booking, priority in boarding a certain airlines or impressive discounts on cards renting.
- Revolving period. It means that you can take a loan from your card account every month. It is really better than a bank loan because to obtain it you should provide a lot of papers.
So, a credit card may help you to calculate personal expenses each month. Only precondition is you should pay your loan in full every time. For wise budgeting you can use a special mobile application connected to your card. It will store a detailed listing on what you spent your means on.
Some cards like American Express, may suggest categorizing your purchases and send monthly or quarterly summaries with charts and figures of how much you spent on retail, restaurants, entertainments, travels. The most progressive developers have already offered innovative software for personal finance tracking. If you still make spending notes in your diary, you are an old-fashioned person. In XXI century it is wise to be a geek.