Generally speaking, when it comes to credit cards, it is never advisable to charge something that you are not able to pay in full, as you will be liable to pay interest on the charged amount. There are, however, a few benefits to be enjoyed when making a purchase with a credit card that not many people are aware of.
Below is a list of items you can purchase and the benefits you can gain from the transaction.
Electronic devices and appliances:
Many credit cards offer extended warranties on purchases of this nature, and in some instances, for a small fee – warranty protection can also be made available to you. This can save you money should you need any repairs done, especially if your warranty time has been extended, as done by certain credit card providers.
Flights and travel accommodation:
Certain <a rel="nofollow" onclick="javascript:ga('send', 'pageview', '/outgoing/article_exit_link/6693829');" href="/links/?u=http://www.standardchartered.ae/personal/credit-cards/en/index.html">credit cards</a> will offer you secondary travel insurance, saving you money, and providing you with cover for flight cancelations, lost luggage and accidental death – to name a few options. Additionally, certain hotels require credit card details for you to be able to even make a reservation. In some instances your card can also give you access to VIP lounges in airports where you can enjoy refreshments, snacks and a comfortable seat to wait on.
Online shopping:
The safest online purchases are done using a credit card due to the protection offered. Credit cards benefit from fraud protection and often offer guarantees on items purchased online including cover against loss, stolen or broken items. It is for this reason that online purchases are becoming more and more popular around the world.
Paying your service providers:
If any service providers, such as contractors, renege on their agreement with you, credit card payments are very easy to withhold. This is especially useful if tasks have not been completed as had been previously agreed upon.
Purchasing tickets for sporting events and concerts:
Many credit card companies offer perks on ticket purchases such as first choice on seats and special deals on pre-sales of tickets. The usual protection offered when making purchases with your credit card will also apply.
Purchases from abroad:
The biggest benefit to be had from making overseas purchases using a credit card is that in certain instances some credit cards may exempt you from having to pay transaction fees, which can be as high as 3% in each individual instance.
Items that are tax deductable:
A credit card bill can act as a receipt of charges when it comes to writing off taxes on expenses incurred. This feature is especially useful for work expenses.
Gym Memberships:
Some credit cards offer points on certain purchases such as gym memberships. Using the card for recurring payments such as these offers you protection against fraudulent transactions or any disputed charges.
To learn more about the benefits you can gain by using your credit card contact your bank to find out how you can take full advantage of all the features associated with your account.Â
Below is a list of items you can purchase and the benefits you can gain from the transaction.
Electronic devices and appliances:
Many credit cards offer extended warranties on purchases of this nature, and in some instances, for a small fee – warranty protection can also be made available to you. This can save you money should you need any repairs done, especially if your warranty time has been extended, as done by certain credit card providers.
Flights and travel accommodation:
Certain <a rel="nofollow" onclick="javascript:ga('send', 'pageview', '/outgoing/article_exit_link/6693829');" href="/links/?u=http://www.standardchartered.ae/personal/credit-cards/en/index.html">credit cards</a> will offer you secondary travel insurance, saving you money, and providing you with cover for flight cancelations, lost luggage and accidental death – to name a few options. Additionally, certain hotels require credit card details for you to be able to even make a reservation. In some instances your card can also give you access to VIP lounges in airports where you can enjoy refreshments, snacks and a comfortable seat to wait on.
Online shopping:
The safest online purchases are done using a credit card due to the protection offered. Credit cards benefit from fraud protection and often offer guarantees on items purchased online including cover against loss, stolen or broken items. It is for this reason that online purchases are becoming more and more popular around the world.
Paying your service providers:
If any service providers, such as contractors, renege on their agreement with you, credit card payments are very easy to withhold. This is especially useful if tasks have not been completed as had been previously agreed upon.
Purchasing tickets for sporting events and concerts:
Many credit card companies offer perks on ticket purchases such as first choice on seats and special deals on pre-sales of tickets. The usual protection offered when making purchases with your credit card will also apply.
Purchases from abroad:
The biggest benefit to be had from making overseas purchases using a credit card is that in certain instances some credit cards may exempt you from having to pay transaction fees, which can be as high as 3% in each individual instance.
Items that are tax deductable:
A credit card bill can act as a receipt of charges when it comes to writing off taxes on expenses incurred. This feature is especially useful for work expenses.
Gym Memberships:
Some credit cards offer points on certain purchases such as gym memberships. Using the card for recurring payments such as these offers you protection against fraudulent transactions or any disputed charges.
To learn more about the benefits you can gain by using your credit card contact your bank to find out how you can take full advantage of all the features associated with your account.Â
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