Are you thinking about purchasing an item that is out of your budget? You may not be able to afford the expenditure all in one go at that point, but you are financially capable of making the payment in the near future. This is where a credit card comes in handy. A credit card is an ideal solution to make such purchases provided you use it exclusively and be sensible about paying off the debt in a timely manner. More importantly, credit card allows for cashless transactions and that too in multiple currencies. So you could be shopping anywhere in the world and still use your credit card to complete a transaction within seconds! Additionally, smart and judicious use of credit cards can improve your credit rating, which will enable you to get quicker loan approvals at more attractive rate-of-interests. Choose a Standard Chartered credit card here.
The best credit cards will charge 0% interest on purchase of goods and services, and allow the purchaser to pay off the full amount within a predetermined period. All you have to make sure is that the amount is paid off in full before the end of the interest-free period. Standard Chartered offers up to 18-23 day-interest-free periods. The general rule of thumb is to clear the debt in its entirety (not just minimum payment) by the due date so that no interest can be charged. Missing deadlines on credit cards mean interest will be added to the balance at the end of each month. Learn more about Standard Chartered credit cards here.
It is still wise to practice caution with your credit card details and its PIN and other important details. Learn how to report a stolen credit card or a fraud here.
There are several incentives on offer on the amount you spend using your credit card, depending on the features of the credit card. Cashback and rewards in the form of air miles and loyalty points are usually on offer for purchases done with a credit card. View the range of offers and promotions on the Standard Chartered credit card, here.
One facility which has traditionally helped credit card clients to buy expensive products is Equated Monthly Instalments or EMIs. Standard Chartered offers Kuch Bhi on EMI – a credit card EMI facility which enables a credit cardholder to convert purchases made through credit card into EMIs. This helps them to systematically pay off their credit card debt at a slightly lower interest-rate, without hampering their credit scores. EMI option is now available at the point of sale i.e. while making the purchase also. Know more about Standard Chartered Kuch Bhi on EMI.