Credit Card Or Not?
When it comes to choosing the payment mode for any transaction we often confuse between cash and credit card. Many find using a credit card as the easiest and best option to choose while others want to finish off the transaction on the spot by choosing to pay by cash. There are many situations where paying by cash is better while other situations demand to pay by credit card. Though there are other ways to pay for online transactions like using the digital currencies. QProfit System is one of the newest online platforms in the market and many traders are using it to make good profits. Learn more about it on the link. This article focuses on a few points that mention when to use the credit card and when not to.
When not to use the credit card:
1) Insurance: When paying for insurance it is better not to use a credit card as you might have to pay additional fees to do so. You also have to think about the interest charges on the credit card.
2) Creditors: If you have any long pending bills some medical bill or some other bills, using the credit card to pay them will change one financial issue for other. Instead of using the credit card negotiating with the creditor might help to come up with a better payment plan.
3) The mortgage under process: When your mortgage is under process you have to undergo various evaluation processes, one of which is the credit evaluation. The mortgage underwriters don’t like to see changes in your credit score when the mortgage is under process. Hence it is important not to use the credit card until the process is finalized.
When to use a credit card:
1) Deals and Offers for the card: You can use a credit card to take benefit of offers and deals that are exclusively applicable to the credit card transactions. There are many offers and deals going on various online websites for which you can use your credit card. The credit card issuers also offer cash back offers on purchase of a particular amount. Using a credit card for such options is the best option.
2) Security when traveling: When you are traveling in some another country it is safer to carry the card instead of cash, as cash if stolen is gone and you cannot get it back. But if the credit card is stolen you can block it immediately by calling the issuer. Also, the credit card has a much higher credit limit compared to cash you can carry.