Benefits of credit Card


In spite of different financial benefit offers provided by financial institutions to their customer, why more persons don't agree to keep a credit card? Can you share your view about good and bad effect of obtaining credit card and what is opinion of customer for keeping credit card.

Banking Relationships
Credit Management
Customer relationship management (CRM)
Financial Institutions
Er Jangyadutta D
14 months ago

3 answers


I use a credit card for speed of transactions for one time purchasing. It eliminates the need to set up an account and payments terms and the negotiation of those terms. Single one-time buys using credit is faster which increases productivity. Point of note - I pay my balance in full each month to avoid interest charges on carrying receivables. The process works well and we haven't had issues using this payment method. All transactions are done over the phone or in person. I never post or email my credit card information as these methods can cause issues if email is compromised.

David Follett
14 months ago

No need to carry cash with a credit card. Used carefully and paid off in full each month, it offers ease of payment.

Don't have the cash to pay off the balance? Take care! Interest will leave you deeper and deeper in debt.

David Cottrell
14 months ago
Really a "charge card" rather than credit card. Seems like a necessary tool in today’s cashless society. - Anthony 14 months ago

Everyone needs some kind of payment card in today’s economy. You really can’t operate without one. I think there is a problem when people use it as a credit vehicle versus just a payment vehicle. For those who keep credit cards in place of emergency savings they run the risk of adding high interest debt at the worst possible time.

Anthony Jaccarino
14 months ago

Have some input?