It is often said that having a credit card is nothing but maintaining an exorbitance. Our financial experts often prevent us from getting a credit card, which is evident on another hand, because most of the times the purchases are made without any purpose. However, it’s all the mind game. If you are aware of the money you are spending on the lifestyle, you can surely have a credit card. It is the provision for those people who often make several transactions and need some excessive amount to be paid at any instance. Following are a few applications of the credit cards.
Security Many people aren’t comfortable with the online payment as nowadays several cyber frauds are getting flashed in the news. But, it is nothing to do with credit cards as they are fully secure for the money transactions. The bank protects your credit card if in case the card is stolen and used in fraudulent activity by the thieves. Enrolment Bonuses Several banks in Kuwait offer some perks on signing up for the credit card. It is nothing but a particular amount is credited to your card, which further you can use for any purchase. Sometimes, several vouchers are offered to the customers. Multiple Rewards and Credit Points For every purchase and the money you spend, you get some points from the bank. You can redeem these points on the next purchases and get a discount on the product you like. Many times, banks offer a list of outlets where you can redeem the points. Either way, you can also get gift cards instead of purchasing a specific product. Several times, the restaurants, petrol stations, or lifestyle stores have tie-ups with banks, and purchases made using the credit card give you more discount than usual. Multiple times, you are entitled to get cashback on the purchases. The banks may offer up to 10% cash-back as to the price of the product. Perks for Frequent Flyers If you are a frequent flyer and go abroad for several reasons, some credit cards in Kuwait are undoubtedly helpful for you. As you travel, you earn miles points that can be redeemed on the next flight booking, or even the discounts are also offered from the airline companies. Grace Period The purchases made by the credit card in Kuwait do not reduce your balance from the regular savings/current account. It will get deducted only when you pay the credit card bill. Furthermore, the grace period is given to the cardholder in which the due bills can be paid. It is always advised to pay the credit card bills regularly to increase the credit score. Convenience Credit cards are accepted universally at each destination such as e-commerce sites, hotels, restaurants, lifestyle outlets and much more. Thus, you never need to worry about the low balance in the account in case you are looking for a hotel room in a different province. Considering the applications enlisted above, it is always a good idea of having a credit card in Kuwait. It not only offers you convenience but also gives relief in terms of short-term financial planning.
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August 2022
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