Author Topic: Advantages of Credit Card over UPI / Mobile Wallets  (Read 87 times)

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Advantages of Credit Card over UPI / Mobile Wallets
« on: March 15, 2021, 01:18:11 PM »
A credit card is a very versatile and highly evolved financial product that offers a much stronger proposition to customers versus other payment products.

An interest-free credit period of up to 50 days to customers on their spends. Credit cards are accepted globally and are also used for
higher-value transactions, unlike other digital payment modes. These differentiating characteristics should continue to drive credit
cards' sustained growth in India.

Flexipay - This feature allows credit cardholders to pay for retail purchases in a number of equated monthly installments (EMI).

Balance transfer - This allows credit cardholders to transfer their existing balances from one institution's credit card to another.

Easy money - Personal loans are offered to credit cardholders within the existing cash advance limit on their credit cards.

Reward points - Credit cardholders also can earn rewards points from purchases online as well as at merchant outlets. Institutions also offer “accelerated” reward points at designated merchants, as well as periodic promotional rewards milestones to stimulate cardholder behavior.

NOTE
1. Credit Cards should never be used for Withdrawing CASH
2. Always Pay your Card Bills in Full before the Due Date.