Top 5 Reasons to go Cashless
When you use credit cards sensibly and responsibly, you not only build a credible and trustworthy credit history for yourself but also ensure your money’s safety and get the best possible returns on your investments. Here are the top 5 reasons why it would have been a good idea to go cashless long time back.
Rewards Points & Cash Back
The latest trend among most credit card issuers is offering reward points and cash backs. It certainly works to your advantage as you get a minimum of 5% cash back or even more on purchases and payment of monthly bills. The feature undoubtedly helps you save more and adds up to a tidy sum when calculated on an annual basis. With inflation ruling the economy today, that’s certainly a welcome bonus. Certain credit cards also allow conversion of reward points to cash which can be redeemed against your regular monthly card bill.
Safety is the Key
The introduction of the micro-chip and the PIN number in all cards have ensured the safety of your money and helped prevent frauds considerably. For those who frequently travel, carrying cash can be risky, and a card with a hefty limit can be a boon under the circumstances. These cards are accepted at millions of outlets worldwide and are convenient for foreign expenses. Moreover, cash can be conveniently withdrawn during emergencies while traveling and this also is an added facility.
Fuel Surcharge Waiver
The waiver of 2.5% on the fuel surcharge at select petrol pumps when you buy gas is yet another grand savings opportunity for cardholders. Even though subject to maximum cash back limits per month, it also adds up to a considerable amount. When calculated on an annual basis, it helps save more on petrol costs as fuel prices spiral day by day.
Protection For Your Purchases
Many cards offer extended warranties for expensive items like washing machines, cameras, audio and video equipment. The manufacturer may offer a one-year warranty only, but if the purchase has been made using the card, it may extend to up to 2 years. Moreover, the Satisfaction Guarantee clause may even get you a full refund on the item if the retailer doesn’t allow it; within sixty to ninety days from the purchase date. The Purchase Assurance protects your item should it get stolen or lost, usually within a period of 90-120 days since the purchase date and this could be a huge protection particularly when the item is expensive.
For frequent air travelers, airline miles sure count a lot. As they spend more and more on air tickets, they accumulate these points which are redeemable for airline tickets. Now, this can be a huge savings tactic especially for those with love for travel and who use credit cards wisely. It is particularly applicable in the case of international travel where tickets are usually more expensive.
Now that you know the reasons go cashless as soon as you can without further delay!
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