Banking cards such as the credit card offer a unique level of financial convenience for many individuals. As a credit card holder, you can get access to a lot of funds anytime you require. Alternatively, you get plenty of benefits through this banking card. But in order to make the most of this card, you will need to make the most of the features of the card.
Here are a few hidden features that will make your financial life easier:
Better alternative to cash:
Credit cards allow an easy access to cash. With this banking card, you need not worry about carrying large amounts of cash for your various purchases. It also reduces the risks of carrying physical cash. Additionally, your transactions get completed faster, with a credit card as compared to any physical cash. You can even use this card in any location of the world. In other words, if you are travelling internationally, you need not carry the local currency, but only need to swipe your card. However, you will need to activate this feature before you travel abroad.
Good credit limit:
Each credit card comes with a credit limit. This limit of credit is determined by analysing the creditworthiness of the cardholder. The credit limit is of two types, namely the normal credit limit and the revolving credit limit. The normal credit limit is determined by the bank at the time when the card is issued. This credit limit will remain the same throughout the tenure of the card usage. A revolving credit limit will vary depending on the financial exposure of the credit card holder.
Track all transactions:
Most banks or financial institutes that provide credit cards also provide the facility where one will keep track of all the transactions made by the cardholder. Keeping a record of this venture will allow the card issue to provide an ideal credit card package that will suit their needs. It also helps you understand all your transactions.
Sufficient grace period:
When you borrow funds on the credit card, you will need to repay back the funds along with the added interest within a specific time. A grace period is referred to the minimum number of additional days wherein which, the card holder must pay off the bill. The minimum grace period given to a cardholder is normally 15 days. Some banks and financial institutes offer an interest-free grace period, thus allowing you to reduce the overall cost of the credit card bill payment.
Addition of bonus points:
In order to stay above the competition in the financial market, most card issuers provide a point system. With every purchase you make, you gather reward or bonus points. Through this points, you can redeem other gifts of equal value.
Here are a few hidden features that will make your financial life easier:
Better alternative to cash:
Credit cards allow an easy access to cash. With this banking card, you need not worry about carrying large amounts of cash for your various purchases. It also reduces the risks of carrying physical cash. Additionally, your transactions get completed faster, with a credit card as compared to any physical cash. You can even use this card in any location of the world. In other words, if you are travelling internationally, you need not carry the local currency, but only need to swipe your card. However, you will need to activate this feature before you travel abroad.
Good credit limit:
Each credit card comes with a credit limit. This limit of credit is determined by analysing the creditworthiness of the cardholder. The credit limit is of two types, namely the normal credit limit and the revolving credit limit. The normal credit limit is determined by the bank at the time when the card is issued. This credit limit will remain the same throughout the tenure of the card usage. A revolving credit limit will vary depending on the financial exposure of the credit card holder.
Track all transactions:
Most banks or financial institutes that provide credit cards also provide the facility where one will keep track of all the transactions made by the cardholder. Keeping a record of this venture will allow the card issue to provide an ideal credit card package that will suit their needs. It also helps you understand all your transactions.
Sufficient grace period:
When you borrow funds on the credit card, you will need to repay back the funds along with the added interest within a specific time. A grace period is referred to the minimum number of additional days wherein which, the card holder must pay off the bill. The minimum grace period given to a cardholder is normally 15 days. Some banks and financial institutes offer an interest-free grace period, thus allowing you to reduce the overall cost of the credit card bill payment.
Addition of bonus points:
In order to stay above the competition in the financial market, most card issuers provide a point system. With every purchase you make, you gather reward or bonus points. Through this points, you can redeem other gifts of equal value.
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