Nowadays, many people who appear in newspapers, news reports, and social media as credit card victims actually run into trouble because they think the limit defined for their credit card is unlimited and fail to consider that it will eventually have to be paid back. My view on this is that a credit card is the best payment instrument, if you know how to use it.
So what are the benefits that using a credit card provides to users?
- Using a card instead of cash both reduces bureaucracy and gives consumers a simpler purchasing process, while also bringing transparency by keeping spending under control.
- It draws consumers into the banking system and provides the ability to shop and withdraw cash anywhere in the world.
- It removes the risk of loss or theft that comes with carrying large amounts of cash.
- Cardholders benefit from both the advantages of paying upfront and of deferred payment with a credit card.
- It supports consumers facing financial difficulty by providing the advantage of installments. It helps people maintain their standard of living during periods of temporary financial strain.
- Thanks to the cash withdrawal facility, it meets the need for cash without having to borrow from anyone when money is needed.
- Instead of tracking payment transactions one by one, cardholders can see all their transactions together by reviewing their credit card statements.
- Cardholders can request that items purchased through online, mail/phone order, or mobile app shopping be delivered to their address.
- With the “spend now, pay later” advantage, the cost of a purchased good or service can be paid for without postponing needs, with payment taking place at a later date.
- By issuing supplementary cards, the spending of all family members can be tracked, and the family's spending balance can be managed by setting limits per card.
- Card transactions earn points. Using the points earned for purchases reduces the amount to be paid, contributing to the family budget.
- It provides payment convenience by allowing purchases to be paid in installments. For example, if your salary is 2000 TL, you can buy a 2000 TL product in 5 installments of 400 TL per month.
