Shopping can be done with both debit and credit cards, but still, it is better to use credit cards. Many times a lot of websites offer huge discounts, attractive cashback and other offers for using a credit card from a particular bank to make a payment. Not only this, there are many benefits of using a credit card. Let us know what benefits you can get by using a credit card instead of a debit card.
1. Get huge offers
You also get movie vouchers, fuel discounts, cashback offers or reward points for using the credit card. But you hardly get any of these offers while using a debit card. Apart from this, on payment of any goods with a credit card, the money is deducted from the credit card and you also get time to repay it.
2. Savings remain
If you shop with a credit card, then you can shop only up to a certain limit. After this, you have to pay that amount, but you can use the savings you have on the debit card only up to that limit. Your savings remain in the debit card and if you do not use the debit card at the time of shopping, then your savings will also be saved.
3. Processing Fee
You get the facility of a debit card from the bank, but instead of the transactions done by you from the ATM, the bank deducts some money from each of your transactions. The processing fee is also deducted by the banks and when you withdraw money from another bank's ATM instead of withdrawing money from your bank's ATM, the processing fee is charged. At the same time, some banks levy an annual charge for spending less than the limit on the credit card. Credit card companies allow users to withdraw cash from ATMs, but interest is high.
image credit- freepik
