Advantages of Credit Card In india

The advantages of Credit Cards in India 
Every field is their own value in life, but without financial aspect we cannot give a direction to our life. After monetization in India, after lockdown due to covid-19, public refers online transaction and go for cashless economy, so every one needs debit cards, UPI, wallets, credit card etc.ways of 
transferring and using money. Except credit card there are all example which required available of a certain amount in your account, but credit card provide us a certain limit which we can withdraw without availability of funds in our bank account. For ex, e-commerce payments, credit cards becomes common form. As they are different from debit cards. When we use a debit card
, the money is being deducted from our bank account. On the other hand, when we use a credit card, we are basically borrowing money from the bank which is to be repaid later according to their terms and conditions. Credit cards allow us to make payments through borrowings against a credit limit.
There are various advantages of using credit cards over debit cards. 
Rewards points : Some banks provide discounts, cash backs, etc tha
t are exclusively available on some credit cards. 
Buying expensive products and services is easier from credit cards : A large amount of number if we used, we don’t have to pay in a single go. You have to repay the amount in installments (EMI) with even zero interests. 
Promote Cashless Economy : Everyone don’t wants to carry cash all the time. Moreover, withdrawing cash anywhere and everywhere is not easiest and convenient. 
Credit cards have theft protection through some insurance schemes : If your card is stolen and someone withdraw or use an xxx amount from a card, the liability is guaranteed by the bank. In contrast, if cash is lost or stolen, it is very hard to get the money back, as we are only responsible for it. 
Credit cards provide travel insurance against lost luggage, canceled trips, and even death. The coverage or an insurance scheme that one gets depends on the respective banks and offered terms. 
Credit cards help in the cheaper conversion of currency. Some cards can save 
up to 8% currency as compared to cash. 

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