5 Reasons Why A Credit Card May Be A Better Option Than Cash
Believe it or not, using a credit card can save you money.
(SPOT.ph) People tend to treat credit cards like some financial bogeyman that traps you into spending more than you can afford. But this is just a misconception. Done responsibly, paying with plastic can be a lot better than coughing up cash. Here’s how:
1. Shopping online becomes much easier.
You can save yourself a trip to the bank by paying for your online purchases with a card instead of through cash deposit. It also allows you to purchase from international shopping sites, which don’t usually offer cash or bank transfer as a payment option. While there are security measures in place, reputable online shopping platforms will not hesitate to accept payment from legitimate and equally reputable credit card issuers, regardless of how much your total purchase is.
Credit card companies also offer additional security features such as daily activity updates and data encryption to make sure that online shopping is as worry-free as possible.
2. You don’t have to worry about running out of cash.
You’ve experienced this at least once in your life: you needed cash, but none of the nearby ATMs were working. This will no longer be a problem if you have a credit card on hand.
Having a credit card handy means you’ll never have to worry about being penniless again. This becomes especially helpful if you’re traveling abroad. You won’t need to go through the hassle of changing currencies if you can pay with plastic instead!
3. You can score potential savings.
You can score extra savings with the special perks, discounts, and rewards. Some perks include restaurant discounts (for those special nights out) or even cheaper airline tickets! Take note that certain special promos and discounts are available only to cardholders. Imagine all the deals you aren't able to cash in on just because you don't have a credit card.
4. The paper trail makes budgeting easier.
The monthly bill itemizes all the purchases you’ve made, allowing you to review your expenses. Getting an itemized monthly bill for your credit card organizes your purchases all in one place, which in turn allows you to see your spending habits more clearly. This can help you improve your spending habits, cut back on unnecessary expenses, and increase your savings.
5. Paying by installment is the best.
This is one of the primary benefits of paying via credit card. You can make large purchases and then split them up into lighter payments so that you are able to budget for other things, while also getting what you want. And when shops have zero-percent interest deals, that's even better because you can pay in increments and not deal with any monthly interest increases.
Credit cards make buying big budget items like TVs and the latest phones a lot easier, thanks to installment plans. Instead of dropping a huge amount of money in one go, you can make things easier on your wallet by paying for your device over the course of 3, 6, 12, or even 24 months. Trust us—there’s a big difference between spending P24,000 pesos all at once, and just P2,000 pesos each month.
Learning to prioritize your expenses is key to responsible spending. If you are conscious and diligent about your finances, then having the liberty to use a credit will be a blessing. Signing up for a credit card is now easier than ever, especially with the Citi Simplicity+ Card. All you have to do is follow the link below to get started, and you’ll be on your way to getting a credit card that not only gives you all the aforementioned benefits but also drops all the complicated fees—so, no annual fees, no overlimit fees, and no late fees! You can also monitor your spending, pay bills, check statement details, and more, all from the convenience of your wireless device, with the Citi Mobile app.
There's an easier yet more seamless way of managing your purchases. A credit card—like Citi Simplicity+—makes tracking your expenses simple, yet more convenient.