About Merits of Credit Cards

A credit card can free the holder from the headache of obtaining funds. It is a good source of all-time money. But, it is necessary to educate students which card is best for them. Student cards invariably have low credit limits. This is done to put a cap on student spending. This will make the student self-dependent and help him/her take his own decisions when it comes to deciding his needs and his wants. Normally, a student spends on books, CDs, food, clothes and electronic accessories. Student cards which are jointly issued with a parent offer two bills, one to the parent and the other to the student. This enables the parent to check the spending patterns of their ward.

Student cards are fairly easy to get. All banks are falling over themselves to issue their own credit cards to students. This normally happens with students who are joining some professional course like engineering, medical, management, etc. Students from these courses generally need cash at a short notice.

There are other cards for adults, which offer many benefits to the user. Some of these benefits include no surcharge for fuel on certain petrol pumps, discounts on ticket booking on the Indian railway website, discount offers in dining at fine dining restaurants, preferential health insurance, accidental insurance benefits, discounts in film theatres, reward points on spending on the card, discounts on food at well-known outlets like Pizza Hut, Coffee Day, Dominoes, etc. Additionally, some cards also offer doctor-on-call, concierge services, cash back on paying utility bills, etc. There are a lot of credit cards from other banks or financial institutions, all of which have tie-ups with their partners through which they offer discounts to customers. Credit cards are particularly useful when we must cash at a short notice in the time of medical emergencies or calamities.