Should I Get a Credit Card? Here's Evaluating Your Requirements

If you are not a Credit Card holder yourself, but know someone who is, chances are that you’ve noticed how much they love using their Credit Cards. You may also have wondered why it is that every time a payment opportunity arises, they are quick to offer their Credit Cards more than any other payment method. Well, there are some very good reasons for their decision and once you find out about the benefits that Credit Cards in the market offer, you might get on-board too.

From the numerous Credit Card offers to matters of convenience and security, there are a variety of reasons why a Credit Card can be suitable for your specific needs. If you find yourself having the following requirements, you should think about opting for a Credit Card:

• You value the safety and security of your transactions:
  There is the main factor of security when it comes to making purchases with Credit Cards. Consider a case in which a person’s Credit Card is stolen and has the potential to be used to make reckless purchases, or due to a fraudulent scheme, a person ends up accidentally divulging his/her Credit Card details to a scammer. With Credit Cards, cases like these can be far more easily settled than with other forms of payment.
  
  Credit Card companies often tend to offer perks such as zero-fraud liability, purchase protection and guaranteed returns to protect you from unfortunate incidents like these. You can also avail of a comprehensive Credit Card protection plan for a nominal fee that protects your payments in the case of theft, fraud or even loss of the Credit Card.
  
  Since the card is credit-based, any fraudulent purchases made through your Credit Card can be blocked or invalidated. Compare this with making payment by means of a Debit Card, whereby any misuse of the card will result in money being directly deducted from your account. Therefore, this feature of fraud protection gives Credit Cardholders an additional incentive to make payments with their Credit Cards.
• You’re looking to build your credit score:
  Another reason why people might prefer to make all of their payments through their Credit Card is to help them maintain a healthy credit score. All purchases made through Credit Cards as well as the details of Credit Card bill payments made by individuals are collected and reported to companies like CIBIL. These companies are the authorities that then provide the individuals with a credit score that establishes their creditworthiness. Credit scores play an extremely crucial role when it comes to seeking financial aids such as applying for a loan.
  
  Therefore, if an individual is a diligent, timely payer of Credit Card bills, they have a lot to gain by making payments with their Credit Cards. They can build an excellent credit score and establish their trustworthiness with banks and financial institutions.

• You’re looking for an alternative to cash:
  We live in an age in which all forms of technology are headed towards becoming more convenient and easier to handle for consumers. That is why cash and physical currency, in general, are quickly being phased out. A payment tool like a Credit Card is just the new norm, helping to make purchases, a simple process. After all, it is far easier to pull out a card and swipe it in a machine than to spend time fishing in your wallet for the right banknotes and coins to pay bills.

• You’re looking to build up loyalty points:
  Most of the Credit Cards in the market also offer an excellent means of making your every purchase count: reward programmes. As an incentive to make more payments through your Credit Cards, companies offer customers various Credit Card offers and the chance to accumulate loyalty points known as Credit Card points or Credit Card rewards.
  
  With every purchase they make, Credit Card holders can collect these points and eventually redeem them for special benefits. These include hotel bookings, flight bookings, holiday packages or the choice of selecting an attractive product from the company’s very own catalogue. The more the number of purchases made through the Credit Card, the higher the number of points collected, which is why people prefer using their Credit Cards for almost all payments they make.
• You like to keep track of your expenses:
  Another reason that people might prefer making their daily purchases through a Credit Card is because they benefit from the detailed Credit Card statements they receive at the end of their bill cycle. For a lot of people, these bills serve as a great resource to track their payments and record their expenditures, thereby helping their budgeting process.

So, now that you know why people value their Credit Cards so much, you might want to go looking for the perfect Credit Card for you. To enjoy various Credit Card offers, you can apply for a Credit Card online from ICICI Bank with a simple 3-step process. You can also enjoy fabulous discounts on shopping, restaurants and fuel discounts. What’s more? You can also enjoy a variety of rewards and cashbacks and your Credit Card is sure to be protected against fraud with the security of a chip card.

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