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HDFC Bank Platinum Times Credit Card Review 2023

Why should i use my credit card


Why should i use my credit card

Why should I use my credit card?

During the holiday season have you seen those Debit card infomercials they basically demonized credit cards and said how dangerous daddy is to use your credit card it's like Oh No right it's such a bad thing 

well I believe only idiots use debit cards here are five reasons why I believe credit cards are much better 

Reason number one why you want to use a credit card and that is you can leverage other people's money you see this is saying that cash is king 

In business, you can survive a long time without making a profit but you will not survive a day without cash companies go out of business because they run out of cash 

When you use a credit card you're essentially borrowing money from the credit card company so when you use your debit card the minute you use their card that money is gone from your bank account 

But when you use your credit card assuming you're paying off the balance every single month you're leveraging the credit card company's money it is a smart thing to do 

because of their period of time a lot of people a lot of entrepreneurs, even when they were getting, started to guess what they started off borrowing money from their credit cards to make that first initial investment

To get the business going to get the investment going on sometimes to just help them get over at that pier of time I did that quite a few times so that's reason number one why you should use a credit card 

Reason number two to use your credit card is you can borrow money for free as long as you're paying off the balance every single month a lot of people just so afraid of credit cards 

because they're thinking oh my god I'm gonna go pay interest I'm gonna get into credit card debt well it has nothing to do with the credit card has to do with how you manage your money and if you have any self-discipline it is just like a pencil

Right you can use a pencil to write a beautiful poem you can use the pencil to write a song you can use the pencil to stab someone like John wake write cue, three men, with one pencil you could do that too it's how you use it if you have the self-discipline to pay off their credit card every single month 

There's nothing to worry about and if you are worried about it and sometimes you're afraid at all oh my goodness I might forget to set a date put it in your calendar put it on your iPhone's that you know you're paying off the balance every single month don't worry about it 

Say even for example you are somewhere and you're travelling you need your car toll and maybe you don't have that money right now before the next paycheck what do you do you're in the middle of nowhere right and you don't have enough money in your bank account to use

Your debit card well this is a moment that you could use your credit card take care of that get the car toll then you've got a few weeks to solve the problem wait till the next paycheck comes and boom now you can pay that off as long as you pay it off and not just making the minimum payment you are okay 

Reason number three to use your credit card is you build up your credit score one of the most important things that most people overlook and they don't think about is your credit score 

now why is this important because when you are now having a family when you want to buy a home when you want to get that mortgage the bank will look at your credit score that's your credibility right a desk you're borrowing power you need to build that up at a young age 

you need to build up your credit score and have a credit card and if you pay that off again on time and not late you build up your credit score 

so a credit card and multiple credit cards use wisely to build up your credit score a debit card cannot do that a debit card cannot do that

If you are a business person if you're thinking of raising capital borrowing money from the bank to get a car all of that the banks would look at your at school it is how we live right this is how we do credibility in North America 

It's very very critical that you do that and it's better to do that when you're starting at a young age is building up their track record does that make sense 

Reason number four why you should use your credit card is you get rewarded now there are many forms of credit cards there are so many different credit cards out there options some of them they offer a catch back meaning for XML dollar spend 

They give you a tiny bit of cashback you're getting paid extra to use your credit card now why do the credit card companies do that because they want to encourage you to use the credit card now they're counting on you to actually just make a million payment and rack up the interest rate but if you are a fan of mine you are smarter than that I believe if you have the self-discipline 

Now there are also other credit cards that offer you reward points or travel reward points right those are very very good because let's say with my company I have multiple multiple credit cards within a company and some of them are travel cards so we accumulate a lot of those points 

 I'm just using a debit card especially if we have any kind of volume example if I use my Amex then I could go to the airport lounge to enjoy free access there are a lot of perks Debit Card doesn't offer that 

Reason number five why you should use your credit card is you are better protected no this just recently happened to me that I got a call from my Credit Card company from the fraud prevention department saying that someone has been using my credit card at the end of the country illegally 

So what they did is they immediately stopped the credit card and they issue me a new one and then through a process, they also give me my backstop that for chilling activity 

Now that's fraud prevention a lot of other credit cards also come with insurance protections that when you're travelling depends on what car you use you get extra protection for that as well if you're using a Mac switch I love a Mac's there Amex also comes with a lot of perks with a debit card you don't get that 

If someone stole your debit card and assumed they know your PIN number when they took money out of your bank account that money it's gone it is gone forever but with a credit card you can then contact the creditor company 

You can provide evidence and say hey you know what these are charged were not done by me it was done by a criminal and they would investigate and if they you prove your case and they would say okay no problem you have your money back and then you have a new card that's pretty powerful 

So those are the five reasons why I believe only idiots use debit cards and why credit card makes sense comment below let me know which reason resonates with you and do you use your credit card wisely not getting into debt but using your credit card wisely.

Also read: Best Card For International Transactions India 2021

Also read: Credit score myths that can harm financial health

Also read: Good reasons to use credit card instead of cash 

Also read: How to use credit cards wisely and make money

Also read: How to create apple id without credit card 



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