5 Reasons to choose credit cards over debit cards

As per a report, the period between May 2019 and April 2020 witnessed an addition of 9.4 million credit cards in India. However, over 30.9 million debit cards went out of use around the same period. This figure may be an indicator that more individuals prefer credit cards over debit cards now. Regardless, it is recommended to factor in the basic differences between credit card and debit card to understand why one should select former as a viable payment option.

These pointers below highlight the reasons in brief –

Reason 1 – Credit cards help to build a credit history. As a result, they come in handy to increase credit scores and in turn facilitate the process of availing advances.

Reason 2 – Above all, credit cards provide an opportunity to earn reward points which can be redeemed to avail discounts or gifts.

Reason 3 – From the aspect of safety, credit card transactions are more secure. These cards come with extensive security features, including, a liability cover. Nevertheless, users should be aware of credit card frauds to prevent falling prey to them.

Reason 4 – Credit cards extend cash advances in the form of personal loans against unused credit limit and cash withdrawals through ATMs. Moreover, with options like Bajaj Finserv RBL Bank SuperCard users can avail a cash advance facility against reasonable rates and an interest-free repayment period.

Reason 5 – You can also avail customised reward programmes that extend attractive offers, discounts and bonuses based on your spending pattern.

Regardless, individuals must factor in their repayment capability and overspending tendencies before applying for a credit card online. They should also choose a credit card that matches their spending pattern.

Download the Bajaj Finserv app to apply for credit card


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