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Finance

5 Good Reasons Youngsters Must Use Credit Cards

Youngsters highly acknowledge the value of technology. A credit card can be their smart buddy of plastic money. It comes in handy to facilitate instant online transactions anytime and anywhere. This applies to easy bill payments, shopping, booking any tickets, and more!

If you’re a youngster, here are 5 great reasons to use credit cards.

#1 – Make the Online Shopping Experience Rewarding

If you’re a youngster, you may shop a lot. The experience can be rewarding if you choose a rewards credit card. It offers rewards like gift vouchers on every rupee spent using the card.

Pick a credit card offering the following extra benefits on using rewards:

  • Up to 10X credit points.
  • The credit points are unlimited and don’t expire so you can use them anytime!
  • No redemption fees on using rewards.
  • More credit points are offered on online card-based spending than offline ones. So, earn more rewards while shopping safely at home with your card!

#2 – Save Money on Purchases with Offers

Youngsters usually earn less. But money shouldn’t be an obstacle to their recreation. This is ensured by credit cards offering time-to-time offers at partner merchants of various categories. An example is a millennia credit card. Plus, youngsters can save money with these offers without ever using their card!

Consider using such a card to enjoy:

  • Lifestyle benefits

These include attractive movie ticket offers, deals on shopping and dining, and more!

  • Travel benefits

Next to movie ticket offers, you may love great travels deals! So, you get complimentary railway and airport lounge access and discounted hotel bookings.

  • Other benefits

These include several in-app online discounts, education, and upskilling offers, and more!

#3 – Build a Credit Score Early

It’s good to start building a credit score from now. A good score can help you get high-limit borrowings in future like a home loan to buy a new house. So, start using a credit card to build a high credit score.

Some cards minimise or exclude certain charges to help clear your bills faster and maintain a good score. Examples are:

  • A credit card with the lowest interest rate

It lets you pay dues from the last billing cycle with minimal finance charges.

It never charges annual maintenance fees for using the credit card!

#4 – Experience to Manage Finances

You can start your experience of managing finances with a zero over-the-limit fees credit card. If you’re a first-time card user, your card-based transactions may sometimes exceed the credit limit. But this special card won’t charge you for that. So, you’ll get sufficient time to learn to manage finances.

#5 – Finance High-Value Purchases

Earning less doesn’t mean striking off a high-value purchase from your list. Suppose you want to gift your mom an expensive laptop on her birthday. Consider taking a loan on your credit card if its credit limit isn’t enough to help you buy the laptop. Then you can repay the loan in EMIs.

For that, take the following steps:

  • Learn about the rate of interest and processing fees charged for the facility.
  • Pay all the monthly instalments within the given repayment tenure.

You may be young. But it’s time to put the first step in the world of finances. So, take the helping hand of the best credit card and proceed confidently!

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