The Benefits Of A Credit Card Are More Than For Shopping

Category: Finance, Credit.

Credit cards are often seen as the bane of all evil when it comes to money problems.

However more and more of us use them each year. They are often the victim of bad press in the news, and the general assumption is it s best to stay away from them all together. In the defence of the credit card however, they can offer, if used correctly flexibility and great rewards to the user. However, if you are really able to discipline yourself and make sure you do stick to your repayments and limit yourself so you do not over spend you can splash out a little more every month. It is of course easy to over spend when all you have to do is swipe and sign, and many of us fall into the trap of spending money which is not really in our accounts. But not too much!

If you have one for any unexpected payments it allows you to pace yourself. The benefits of a credit card are more than for shopping. For example, I recently had to have work done to my car which put me back a few hundred pounds. Anything from car repairs to household maintenance due to a broken down washer machine can be made affordable on a credit card if it s used carefully. I paid for this on my credit card and can now comfortably afford both the repayments and the service. It may surprise you to know you have more consumer rights when you spend by the use of a credit card than you do when using cash, cheque or even debit cards. These rights where first established in the 70 s, and an example is that if you purchase anything on your credit card, over the value, even partially of �100 then a claim equal to that amount can be made against the business you are purchasing it from as against the card issuer.

The" snag" , if you can call it that, is that to receive these rights you must pay the outstanding payments on time. This means that if you where to purchase something which was damaged or never actually arrived. You can claim the money back off the credit card supplier instead of the retailer.

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