Credit Card: There are not one or two but 7 benefits of having a credit card..

Whenever it comes to credit cards, many people consider them a debt trap and advise them to stay away from them. But if it is used properly, it can prove to be very beneficial. Let us know the 7 big benefits of using credit cards.

1- Credit history is strong
Whenever you go to take a loan, the bank first checks your credit history. Using a credit card creates a good credit history, which makes it easier to take a loan in the future. If you have more than one credit card and you manage them properly, then your credit score is even stronger.

2- Benefit of reward points
You get reward points when you shop with a credit card. If you pay with cash, you do not get any additional benefit, but when you spend with a credit card, you can convert these reward points into shopping vouchers or cashback. Usually, the value of a reward point is 25 paise, but it can vary according to the bank and the card.

3- Extra time for payment
When you pay by credit card, you get up to 30-45 days. That is, you do not have to pay immediately. Whereas when you pay by cash or debit card, the money is deducted immediately. This makes it easier for you to manage your finances.

4- You can earn money in extra days
Since you get 30-45 days extra time after paying by credit card, you can earn interest by keeping your money in a fixed deposit (FD) or savings account during this time. That is, you can earn extra from your own money.

5- Benefit from sale and discount
Sales are often held on Flipkart, Amazon, and other e-commerce platforms, where special discounts are given on credit cards. If you have the right credit card, you can get the same product at a lower price, which saves you money.

6- EMI facility
If you have a credit card, you can convert any big expense into EMI. Sometimes you even get the option of no-cost EMI, so that you do not have to pay interest. Although, the EMI facility is also available on debit cards, no-cost EMI is mostly available on credit cards only.

7- Useful in emergencies
If money is suddenly needed in an emergency, then a credit card is very useful. For example, if there is a medical emergency and you do not have money in your account, you can still make payment through a credit card. Not only this, you can also withdraw cash from a credit card, but keep in mind that a very high interest has to be paid on it.

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