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September 18, 2011

Why should you use a credit card?

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Written by: admin

Aside from providing an extra cushion in emergencies, there are some notable perks to using a credit card, many of which go overlooked. Here are some of our favourites:

Credit cards don’t have to cost you more

Using pre-paid mastercards from the likes of Secure Trust Bank allows you to access some of the advantages of credit cards without ever getting into debt. You could also choose to use standard credits in a similar way to a debit card, by clearing the full balance every month to avoid interest. Make sure you are careful to choose a card that doesn’t penalise you for doing this, or charge you an annual fee for holding it. 

Credit cards can protect your purchases

Many consumers don’t realise that when you use a credit card to buy goods costing between £100 and £30,000 you are entitled to extra protection under Section 75 of the Consumer Credit Act 1974. This piece of legislation means that your credit card issuer is jointly responsible for any problems you may experience with the transaction. This cover also applies when you use your cards online or overseas.

You can be rewarded for using a credit card

As well as allowing you to spend flexibly some credit cards reward you for using them, This can be in the form of cashback offers, air miles, or reward points affiliated to certain stores or supermarkets.

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