We use credit cards and debit cards to make financial transactions easier. Through these two cards, we can easily do many types of transactions. Credit card is considered better than debit card. Different facilities are available on debit cards and credit cards.
Many facilities like rewards and cashback are also available on credit cards. Apart from this, it also helps in maintaining good credit score. Let us know why a credit card is better than a debit card.
Reward Point
By using the credit card, you get the benefit of reward points. You can use these points for credit card bill payments, shopping, etc. You earn reward points on every purchase or shopping you do. Different reward points are available on every credit card.
Sign-up Bonus
You also get the benefit of sign-up bonuses on many credit cards. You earn reward points, cashback, free-flight tickets and gift vouchers. The joining fee is waived whenever you take a credit card. On many cards, joining fees are waived when the customer spends up to a limit.
Cashback and Discount
Offers like cashback and discounts are given on credit cards. Such requests are given more in the festive season. Cashback and discounts are given in grocery, entertainment, and dining categories. When you shop with a credit card, you are given the benefit of cashback.
Transaction Security
Credit card transactions are secure. Many experts believe that credit cards are much more secure than debit cards. The security features of credit cards have made them better than debit cards.
Credit Score
If you have a good credit score, you do not face any problems in getting a loan. With the help of a credit card, you can improve your credit score. At the same time, such a facility is not provided in debit cards. Credit card helps build credit score and maintain a low credit utilization ratio.
Credit Cards Are Used Extensively
Debit cards are widely used in India. Credit cards are used more than debit cards for many offline and online transactions. Credit cards are even used for transactions abroad.
