A credit card could be a flexible and perfect way of borrowing money, which lets you make purchases that you can pay for in the future.
Before you read how to get a credit card in Kenya, it is vital to be alert of the potential costs and make sure that only borrow what you can afford to pay back. To get the most out of your credit card it is vital you are capable to meet your payment dates and perfectly pay in full every month.
Here are some of the advantages of credit card and how to get a credit card in Uganda:
A credit card is safer than carrying cash
While there is only a little chance of having stolen or lost cash returned, a credit card can fast be cancelled if you lose your wallet. Most financial institutions also have security processes in place to save you if your card has been stolen or lost or if you suspect your account has been used for a fraudulent transaction. If you are in any of these conditions, ensure to contact your bank to report the problem as soon as easy.
A credit card can build your credit rating
Your credit card account details and payment history make up an important part of your credit score. If you keep your account in best standing, this information will help you build a best credit score, which would raise your chances of approval for other items such as mortgage or car loans.
Earn rewards points when you spend
Rewards and airline credit cards permit you to earn reward points on every dollar you spend on eligible purchases, such as the gas and groceries costs. Reward credit cards let you earn reward points to redeem with the banks rewards program for perks including flights with partner airlines, items from the rewards store or cash back.
Travel reservations and insurance
In today’s online age, reserving your flight or booking your hotel stay generally needs a credit card to complete. If you do not have one, you may find it difficult to make your travel itinerary. Also, most travel credit cards come with a big range of insurance and coverage choices, including lost luggage, travel accident insurance, car rental collision damage waiver, trip cancellation and more.