Still Don’t Own a Credit Card? 8 Reasons to Get One Now

Financial well-being is an essential requirement today. To help you do that, there is no better option than credit cards

With their ease of use and convenient pay-back options, credit cards have become an indispensable part of our lives. If you do not have a credit card, consider these reasons to apply for one:

Easy Access to Credit

The most significant advantage of having a credit card is easy access to credit. These cards function on a deferred payment basis. It means that you get to use your credit card now and pay for the purchases later. The money does not get debited from your account, thus not denting your bank balance every time you swipe.

Enables You to Build a Line of Credit

Another reason for having credit cards is that they offer you the chance to build a line of credit. It is extremely essential as it allows banks to view an active credit history based on your card repayments and usage. The banks and financial institutions consider credit card usage to gauge a potential loan applicant’s creditworthiness. This way, your credit card helps in getting loans or while renting a home in the future.

Equated Monthly Installments Facility

In case you plan on making a large purchase and do not want to sink your savings into it, you can choose to put it on your credit card. This way, you can defer the payment. Additionally, you can also choose to pay off the purchase in equated monthly installments. 

This way, you can ensure that you do not pay a lump sum and dent your bank balance. Paying through EMI is cheaper than opting for a personal loan for a big purchase. 


You can just swipe the card at any touchpoint and sign on the receipt to complete a successful transaction. It is applicable only when you have not exceeded your credit card limit. Moreover, credit cards also make online shopping easier and beneficial. Many leading retailers offer big discounts against the purchases made using the credit card.

Offers and Incentives

Most banks provide credit cards with offers and incentives to use the cards. It ranges from cashback reward point accumulation each time you use your card and swipe. These can be redeemed later as air miles or used towards paying your outstanding card dues. The banks also offer discounts on purchases made using a credit card like flight tickets, holidays, and more. 

Flexible Credit

The best aspect of credit cards is that they come with an interest-free period. It is the time on which your outstanding credit is not charged any interest. Ranging between 45-60 days, you can avail of free, short-term credit on the account that you pay off the entire balance due by the payment date. Hence, you can benefit from a credit advance without having to pay the charges associated with having an outstanding balance on your credit card. 

Record of Expenditure

One significant advantage of using credit cards is that you have records of all the purchases made. All banks send a detailed list of expenses in the form of a monthly credit card statement. You can use it to track your spending and purchases. It will be useful when chalking out a budget or for tax purposes. 

Generally, banks also provide instant alerts each time you swipe and use your card. The alert has detailed information about the amount of credit still available as well as the current outstanding amount on your card.

Purchase Protection

With credit cards, you get additional protection in the form of insurance for card purchases that might be lost, damaged, or stolen. You can use the credit card statement to vouch for a claim’s veracity if you need to file one.

If you want to buy one, you can just apply for a credit card online. Many reputable banks like Axis Bank have an easy credit card application process. You can visit the website, read the terms and conditions, and apply for the same. If you face any trouble understanding, you can contact their representatives. The team will be happy to guide and help you!