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Advantages of credit cards

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Credit card advantages

Advantages of credit cards

Credit Card advantages

Learn about the advantages of a credit card to find the one that suits you best!

Advantages of a Credit Card

If you intend to make the most of your Standard Chartered credit cards, then using them smartly is the key. When used in a judicious manner, the consumer is empowered with borrowing options at no hidden cost or interest, extra protection from frauds and money-savings features like cashback and rewards. Let’s have a look at some of the advantages of using a credit card.

Convenience of Use

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.

Interest-Free Period

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.

Safety

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.

Cashback and Rewards

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.

Credit Card EMIs

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.

Disclaimer

The views expressed in the article are those of Standard Chartered Bank (“SCB”) and do not constitute financial, professional or other advice. SCB, including its Directors, Officers or Employees shall not in any event be liable for any damages or injury arising merely from your reliance on any information provided here. Each bank / financial institution will have its own processes/ fees/ charges and any information contained in this Article is only indicative. Before placing any reliance on any information contained or views expressed in this Article, we would request you take all steps necessary to verify the correctness thereof. The information contained in this Article is only indicative. Each Standard Chartered Bank Product has its own terms & conditions and should be referred to in entirety. We request you to kindly visit “sc.com/in” or visit your nearest Standard Chartered Bank Branch or call on our Customer Care numbers for more details