Credit Card are they Good or Bad ?

Credit card are plastic card issued by banks which allows you to carry out transaction upto your credit limit permitted.

Digital Payment: Credit card as made life lot more easy, no need to carry bulky wallet or risk carry cash. Just take your card and swipe/tap it at offline merchants. Use it at kirana store to online purchases, utility payment to insurance, or pay even your rent or school fees as well.

Contactless: Enjoy the convinence of contactless payment option at merchant location just by tapping POS for bills below 5000.

Interest Free Credit: Allows you to enjoy free credit upto 40-50 days depending on terms without any interest. It helps you to manage your cashflows well.

Rewards: Creditcard rewards you with reward points which you can use to claim from rewards,  vouchers , convert to cash credits against statement or as airmiles etc. Somecards give you flat cashback discounts. 

Discount: Credit cards comes with a host of instant discounts from various merchants from time to time which makes your pockets lighter especially during festival seasons. 

Save on Fuel: Cobranded fuel credit card can get you discount for your fuel purchases ~4% and save you from fuel inflation too. 

Longue Access: Most credit card comes with complimentary domestic longue access and premium cards also comes with International Airports Longue access which can be of great use for air travels. 

Credit History: Prudent use of credit card helps you to built your credit history and score. 

EMI: Creditcard's also helps you to purchase product with EMI. No cost EMI is a great option to purchase products.

Insurance: Most card comes with card fraud coverage. Some premium cards also provides Personal Accident Protection/Air Accident Insurance/Travel Insurance depending on the cards.

Host of lifestyle benefits: Premium Creditcard's also comes with host of lifestyle benefits like free golf court access, meet and greet at airport, concierge services etc.

UPI Payment: Recently RBI has allowed to link RUPAY credit cards to UPI platform and use it pay merchants with QR Code. 

VERDICT

Credit is a must in your wallet and basic tool to manage your finance better. I find no reason to not use credit cards. Remember never to over spend your budget, pay your bills in full and keep your spends below 30% of your credit limit.