In this time and age, we rely heavily on cashless transactions. And rightfully so - as it has proven to be fast, effortless and safe! There are two basic methods of online transactions, debit and credit cards.
A credit card allows safer transactions than debit cards due to its protection against cash and identity theft. Of course, there are many more reasons why everyone should opt for credit cards applications from online bank portals.
- Extended Warranty
With debit cards, you can buy goods and access repair and replacement within the given warranty date. As a credit card user, this warranty period can extend further, allowing good returns services and part replacement. It is also viable for products which do not come with any warranty.
- Direct Communication
As for debit card users, if there are any problems regarding unknown additional payments for goods and services, you'll need to bring it up with the middlemen (seller) which only then reaches the higher authority. Credit card holders, on the other hand, have the benefit to bring up such matters directly with the higher authority and solve the problems of incorrect billing in no time.
- Source of Expenditure
A debit card for savings or current account implies that the money you spend using it is from the account itself. Due to lack of safety, if there are any problems of theft via hacking, you'll be losing the money directly from your account. As a credit card holder, every goods and service you purchase will be from your result of income which shows how much credit you deserve. Hence if there are any cases of theft, the card issuer will have to compensate for the amount.
If you wish for a safe and cashless transaction without having to worry about losing money on fraud sites or hackers, opt for credit card applications on online banking sites.
Read: What is a Credit Card?
