Using credit cards gives you a number of benefits that you don't get when paying with cash or cheque. The following are the 10 key benefits of using credit cards.

Convenience

Credit cards offer no-hassle shopping - no cash, no checks, no additional identification.

Security

Lost cash can be used by anyone. If you lose a credit or debit card, report it to the bank that issued the card as soon as possible and you may be protected from unauthorized use of your card. However, different banks may have different liability policies, consult your bank if they offer any liability waiver.

Emergency Protection

A credit card will get you through almost any emergency you can think of. It's like a security blanket that will cover you, in most situations.

Universal Acceptance

Some credit cards are accepted at as many as over 20 million merchant locations worldwide. Try that with a personal check! If you need cash, you can get it at ATMs or banks around the world that accept your credit or debit card.

Simplified Record-Keeping

Credit cards give you a record of all your transactions for the month, so keeping track of where your money goes is easier.

Consumer Protection

When you purchase goods or services with a credit card, you have more clout if a product is not satisfactory because your card issuer may intervene on your behalf. Once you have already paid by cash or check for an item, the merchant may not be too interested in making adjustments. Consult your card-issuing bank clearly what are their policies regarding cardholder's disputes with merchants.

Value-Added Benefits

Many credit cards offer rebates, cash refunds, contributions to your favorite charity, or other special value-added benefits that you won't get with paying by cash.

Flexibility

You're at the mall and see something you really need that's on sale for a limited time. You don't have the cash to pay for it right now, but you hate to miss out on the big savings. A credit card allows you to take advantage of sales and special offers, and then pay for your purchases according to your personal spending plan.

Easier Budgeting

With a credit card, you can plan to finance a major purchase and pay it off on a schedule that fits your budget.

Essential for Mail, Phone or Internet Purchases

A credit card is essential for renting a car or booking a hotel room. Wherever you travel to around the world, a credit card is the universal guarantee of your good financial standing. A credit card also simplifies and speeds up mail ordering and currently is the only way to make Internet purchases.

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