Credit cards still reign supreme as one of the most reliable, secure, convenient ways to pay, making them a primary choice for most buyers today.
From Amazon to eBay, from our favorite brands’ dedicated online stores to massive outlet shops with discounts we all love, buying online has become one of our time’s main perks. So, despite our financial advisor’s guidance, we get a credit card and continue evolving as buyers in the 21st century. However, while the practice of relying predominantly on credit cards has its drawbacks for irresponsible, impulse buyers, the positives of using this convenient shopping method far outweigh the negatives.
Unlike someone who has no control over their spending and buying, you can actually use your credit card as a more reliable, secure way to not just build your credit score in case you ever need a loan, but also to keep an eye on your spending patterns. To learn more about various ways in which you can benefit from using your credit card when making that next purchase, here are a few factors to keep in mind.
Refined tracking of your spending habits
If you don’t really enjoy cramming dozens of apps on your phone – you’re not alone. Far too many of those software tools of ours lie in the background without ever being used, just slowing down our devices. As a result, too many people abandon those handy budgeting apps that serve the single purpose to keep you aware of your spending patterns. Well, using your credit card does that for you.
Credit card companies keep your information and your credit card purchases stored for a very long time, sometimes even for years on end, making them available to you so that you can compare and contrast your purchase history and make smarter buying decisions in the future. Moreover, your detailed credit card history also makes filing taxes in countries such as the U.S. much easier due to their clear layout and transparency.
A variety of perks and benefits
Debit cards are practical and useful especially for people who stick to regular grocery shopping, as the money is withdrawn from your account the moment you make a purchase. The story is completely different with credit cards, as companies aim to please their users by tailor-making specific reward programs for each card in question. This growing trend is particularly prevalent in fast-developing markets such as Hong Kong, where tech, innovation, and online shopping go hand in hand.
To make sure they get precisely the kind of benefits they need, there are dedicated platforms that compare credit card programs based on numerous factors, including the finest perks and benefits each card brings to the table. Some are aimed at frequent travelers so they offer credit card miles, others spot your favorite stores and let you earn points for each dollar spent so that you can redeem the points in your favorite spots. Of course, there are still benefits for grocery shoppers and other day-to-day spending, it all depends on the benefits that suit your lifestyle.
Incomparably greater security
We are beyond those early stages of introducing online shopping when most were too afraid of various kinds of fraudulent behavior to trust these digital channels. Today, it’s the safest form of shopping there is, as long as you stick to trusted and certified retailers and credit card companies with advanced security systems in place. So how do they do it? With a number of rather complex, but powerful protection strategies.
Even at the off chance that your credit card number is stolen, there are several steps that ensure no one but you can access your funds. Even if they somehow manage to make a purchase, the money from your credit card remains in your account for a little while longer, which is also known as the grace period, giving you time to report your card stolen, and the bank will stop any transactions without any damage to your score, account, or liability.
Purchase protection for the modern consumer
Unlike other forms of purchase, credit cards have yet another benefit going for them when you’re someone who will spend a hefty sum of money for a valuable item: purchase protection. Spotting that same expensive item for a lower price, or noticing that the item in question is not functioning properly or is damaged means that you can actually ask for a refund, and your credit card most likely has built-in insurance for those situations.
Credit cards often add warranty time, if not even double it, to some of those valuables that are considered long-term investments, such as technology, furniture, and the like. In case the store fails to send you the product, or it’s not delivered to you, as well as a number of other less than pleasing purchasing scenarios, major credit card companies have built-in protection for their clients, so you can ask for a refund.
As we have grown accustomed to having a range of different options, it will be no different with our payment choices – the more, the better. Diverse payment methods have become a perk even among major retail stores, so that the customer can choose the best option at any given time. Credit cards, however, still reign supreme as one of the most reliable, secure, convenient ways to pay, making them a primary choice for most buyers today.