The prominence of credit cards as the most preferred global financial services system remains undisputed. Credit cards are not only tempting but convenient and rewarding provided you’re a self-disciplined shopper. Whilst most people enjoy the convenience of transacting through credit cards, some of us can’t understand why it’s important to have one in the first place.
Let’s examine 3 reasons why you need a credit card.
- Zero liability protection
Most Credit cards holders have fallen prey to fraud, phishing scams or skimming at some point. The good news is that all major credit card issuers know that hackers and fraudsters can take advantage of cardholders for selfish gains. To protect cardholders from fraudulent charges, and unauthorized purchases, they offer zero liability protection. This policy simply means cardholders are exempted from taking responsibility for any unlawful purchase made using their credit cards. For your own convenience, it is important to report to your credit card issuer immediately in case your credit card is stolen or lost for your own convenience.
- Build a strong credit history
Credit cards can help you build a strong credit history if used properly. We all know that bad credit history can be a significant hindrance to our dreams. For this simple reason, we need to be on the good books with creditors. Maintaining a good credit history unlocks the door to all your dreams. The quickest way to build your credibility through your credit card is by using it frequently and responsibly at all times. Develop a habit of paying your debts on time and in full, only borrow what you can pay back efficiently and conveniently. Remember, a good credit score is the key to achieving your dream job, home, sports car or any other property. Use your credit card regularly and wisely to build, rebuild and even maintain a tremendous credit score.
- Safe and convenient
Credit cards remain the safest and most convenient payment options in e-commerce. Today’s consumers have a preference for online shopping. In such cases, only credit cards can be used to make safe payments. Unlike cash which is irretrievable, any fraudulent credit card transactions can be canceled quickly after detection. As a credit card holder, it is wise to conduct business with trustworthy, reputable and genuine websites for your own good. In addition, credit cards work in all currencies making them more convenient for shoppers. While some credit cards charge currency conversion fees depending on specific countries or stores, most credit card issuers don’t charge anything for purchases made in foreign countries. Lastly, most modern businesses are starting to decline other payment options for safety purpose thus making credit cards the safest and most convenient alternatives.