5 Reasons To Use Your Credit Card

Have you been considering applying for credit? Not sure what the main benefits are? Here are FIVE reasons to use your credit card:

1-Travel:

One of the main benefits is using your credit card while traveling where you don’t need to worry about exchange prices or having to carry around too much cash. But here are a couple of small tips:

• If asked to pay in EGP or Foreign Currency, it's almost always better to choose foreign currency as you’ll get a better conversion rate than the opposite.
• Always check the coverage of your card network (VISA vs Mastercard) to ensure that your card will be widely accepted.

2-Marriage Preparation:

We all know the significant financial burdens of marriage, a credit card can help you delay some of the items for some ~50 days. Additionally, you can earn rewards towards all your purchases

3-Daily Purchases:

Using your credit card for daily purchases has a myriad of benefits:

• It’s easy to track your spending either through the SMS messages sent by the bank or through the monthly statement
• Using your credit card and repaying the debt on time allows you to improve your credit score (I-Score) thereby making it easier and potentially cheaper to borrow in the future
• If you have a need which at one month or another surpassed your cash balance you can always still pay for the necessity, but always beware of growing credit card debt

It’s easy to track your spending either through the SMS messages sent by the bank or through the monthly statement

4-Rewards or Points Systems:

Most credit cards have a rewards system that rewards you for each LE you spend. The different systems typically are:

• Miles for Air Travel: which can be exchanged for plane tickets or hotel reservations
• Vouchers: which can be redeemed for shopping from your Banks merchant network
• CashBack: where simply you earn money every time you spend

5-It's Easier & Safer:

The benefit of a credit card is that you can use it anywhere that has a POS (point of sale) which is increasing significantly without having to carry cash. In case you lose your card you don’t have to worry about someone using it because (a) they need your personal PIN to do it and (b) you can call your bank and immediately stop all transactions on your card.

You can find out more about the History of the Credit Card here.

You can apply now for the Credit Card you need on Faydety in minutes.