Benefits of owning a credit card

What are the benefits of credit cards? The biggest advantage of a credit card is that it lends you money to purchase on credit. Credit card benefits vary from card to card, but all credit cards generally provide a flexible loan, often with perks such as introductory cashback offers or interest free periods. Incentives can also include insurance, rewards and loyalty schemes.

Complete protection

Other significant advantages of a credit card include automatic cover when you make a purchase. Credit card users are protected by certain laws that aren’t offered to debit card or cash users, such as security from fraudulent transactions - a safety net if the company you’re buying from goes bust, or a refund if your purchase is lost in the post. Credit cards are also reliable for accessing travel funds as they provide protection when you’re abroad.

Boosting your credit score

If you keep up with payments to avoid unnecessary interest or charges and you don’t exceed your credit limit you will gain more access to credit in the long term. Managing your credit card responsibly can help boost your credit rating, so be sensible when spending and you should reap the rewards.

The advantages of an aqua Mastercard include a credit limit of up to £1,200 with no interest on purchases if you pay your balance in full and on time each month. There are also flexible payment date options, a friendly UK-based customer helpline, no annual fee, the security of chip and PIN technology whenever you use your card and the opportunity to add a free additional cardholder.

Identify the card that suits you best and check the terms and conditions to ensure it offers the most suitable features. Read the small print to ensure you don’t miss out on special deals. Credit card benefits can be countless and when used correctly a credit card can afford complete financial confidence just knowing that you have access to credit in times of need.