Banks generally evaluate and offers a Credit Card to only those who are financially sound and has good credit score (A score in between the range of 711-745 is considered as ‘good’ and are low risk to banks).
Credit card is available to those who have a good past track record of almost no default till-date. If you are a fiscally responsible individual and pay your credit card bill before the due date or end of every month credit card could be a great deal for all.
Some purchases are difficult to make with a debit card, hence the credit card comes to the rescue. When you are booking a hotel stay, you will have an easier time if you have a credit card. Hotels usually want their users to pay with credit cards as it makes it easier to charge users for any damage, they source to the hotel rooms.
Also, some global websites and popular e-commerce stores only accept credit cards for transactions, so it’s best to use a credit card handy which will offer convenience and sometimes 5% – 10% discounts on some transactions.
Credit cards allow you to earn one or more points per Dirhams in spending. Certain banks’ credit cards provide bonus points for certain categories of spending like groceries or restaurants. When minimum earnings thresholds are met, rewards can be redeemed for travel (Airmiles), restaurants, or even hotel bookings the benefits are endless from the credit card rewards.
You can leverage your everyday spending to earn valuable rewards day in and day out by finding out the best card that fits your spending patterns. if you’re spending money on a regular basis with certain merchants or hotels, make use of a credit card that will back you by offering various rewards and discounts on your daily expenditures.
Credit Card points give you a unique experience through complimentary lounge access at the airports and sometimes even priority check-in.
The other important benefit is that Cardholders generally earn miles at a rate of one mile per dollar (depending on the type of airline and the credit card you chose). many Airmiles cards are made exceptionally more valuable by their mileage-based introductory bonuses.
It’s easier to avoid losses from fraud by Paying with a credit card. When your debit card gets hacked or stolen the money is gone from your account immediately. Moreover, when your credit card is mishandled or used fraudulently, you will not go out of money, in this scenario, you must notify your credit card company of the fraud activity and you don’t end up paying for the transactions which you didn’t make, while the credit card companies resolve the issue for you.
Other safety features in credit cards include encryption, which keeps your account information safe when using your card for in-store transactions, and also some credit cards offer credit monitoring services that allow you to easily control your account.
Many credit cards come with insurance. For example travel cards (credit cards) usually come with travel insurance, rental car collision insurance or trip delay insurance, or trip cancellation insurance. Some cards even offer extended warranties, price protection, phone protection, or purchase protection.
You can head on to apply for a credit card through our platform Appro at your convenience and as per your choice of banks instantly.
