Money can’t buy happiness but backs up events or goals that can make you feel happy. If you are like most people in India, you prefer using your ‘own’ money to pay for regular expenses rather than borrowing a loan.

After all, you have that reliable piece of plastic known as a ‘bank-affiliated debit card’ to get cash. You use it to withdraw money from ATMs.

Relying on your ‘money’ all the time is a good thing. But wait a minute.

Don’t you wish to reduce your financial burdens with some extra money?

If yes, your debit card won’t help you out in that case. However, worry not.  You can have a credit card to your rescue.

Simply put, a credit card lets you borrow money from a bank that you can use to manage your finances. You can easily pay for buying things online and offline without worrying about losing your savings. What’s most important is that you pay back what you owe to your bank each month as per your billing cycle.

Now comes the question you might be waiting to ask –

“Should you opt for a credit card and start using it instead of your debit cards?”

As an answer, there isn’t just one but many reasons why you should switch to using a credit card. Some of the reasons are as follows:

1.        Quick and Easy Short-Term Financing Benefits

The moment you use a debit card to withdraw cash, you get a message on your phone saying:

“Your account has been debited with INR XXX. The remaining balance is INR YYY.”

Every time you get this message, you feel like your income is reaching towards its end.

However, when you use a credit card, it is only your credit limit that reduces and not your available income. You even get a grace period of around thirty days till your next bill date. Moreover, there is no hurry as you can pay the bill before the due date.

With most of the credit cards, you need not pay any interest if you pay the total bill before the due date.

Credit card usage simply means getting a short-term loan for a tenure starting from the purchase date and the due date to settle the bill.

2.      Improvement in Credit History

If you have never borrowed any loan before, it means your credit history hasn’t yet started showing in the eyes of credit bureaus.

Wise and sensible use of credit cards builds your credit history and even improves it as time passes.

Wondering why you need to think about your credit history at all?

Well, life becomes easy when you choose to pay for several different big expenses through a bank loan. They can be about buying a new home or a car that you have always dreamt of.

You might not know, but the banks will look at your credit history before lending you a loan. Not having a solid credit history may make the loan-borrowing process difficult for you.

To ensure you don’t face hassles later, start using a credit card.

3.        Cashbacks and Rewards

If you love buying stuff online regularly, you might earn rewards on your purchases as well using a credit card.

These rewards are generally in the form of a cashback into your account or bonus points that you can redeem later.

Not just that, you may even find many credit cards with sign-up rewards and discount offers. For instance, a new credit card might give you a discount of two-thousand rupees on your first booking with a specific hotel chain.

As you continue building your credit score by wisely using your credit card, you may get more and more such rewards.

Feeling doubtful as you are new to choosing or using a credit card? It is crucial that you apply for a credit card from a reputable bank, such as Axis Bank, that offers many different types of customized credit cards. Cards offered by them provide many benefits such as complimentary offers, cashback, activation rewards and several others of this kind. So, when you can get so many perks and benefits with a credit card, buy one today itself and enjoy all that’s in store.