Credit cards can be a perfect way to spend when you need to and pay back later, and as a backup when you are traveling. They can be helpful in emergencies and may also provide great rewards and other advantages.
Here are some of the advantages of credit card and how to get a credit card in South Africa:
The choice to pay later
Credit card permits you to pay off a purchase at a later date. Typically you get up to fifty percent days of interest-free period. During this time you do not incur interest on any purchase that you made. So, if you time your purchase rightly you can pay off after getting your monthly salary, you can ease the burden on your monthly budget.
Transaction dispute
Credit cards permit customers to dispute a transaction that they have already made. This spec is particularly helpful if you have paid for a service that was then not given to you or an item that was not delivered. Addition, it is a much faster way of getting your money back.
Loan on credit card
If you ever need cash urgently then you may apply for credit against credit card. Here, the bank will transfer money against available credit/cash limit to your bank account. Post approval, you can expect to get the amount transferred within a few minutes.
Rewards and advantages
Almost all credit cards give some type of advantages to their cardholders. These can be in the type of cashback, reward points, airmiles and so on. These can make your purchases rewarding. You can use the reward points to purchase merchandise, use the airmiles to book a flight or use cashback to shop even more.
Balance transfer
Credit cards let you transfer the outstanding money from your credit card to another card provider’s credit card. By using this feature you can lower or even temporarily avail a zero interest rate. This will provide you a much required respite from the high credit card interest rate which is approximately forty percent.
Security
Today credit cards are saved with EMW chip which secures against fraudulent transactions. Payment gateways and bank providers have also boosted the security measures to make sure safety during online transactions and how to get a credit card in Zimbabwe.
