Rumor has it that paper money is soon to become extinct and a thing of the past. The news should come as no surprise if we take into consideration the rapid development of technology that has given birth to other forms of transactions. Cash transactions have been replaced with digital transactions, making the paying process quicker and more efficient. However, many are still reluctant to switch to using credit and debit cards simply because they like the tactile nature of money. Some prefer their money where they can see it—safe and sound in their wallets.

Cash is vulnerable and can easily be misplaced or stolen, and although you can also misplace your credit card, you can solve this issue by calling the bank and taking out a new card. Nowadays, in the pandemic era, many shops and restaurants have declared a no-cash policy to avoid physical contact and lower the risk of virus transmission. So, if you’re still hesitant to apply for your credit card, maybe this article will change your mind. Stay tuned as we disclose the four most important advantages of digital currencies.

New user bonus

Good news for all of those who have yet to apply for their credit card. As a new card user, you’ll get a welcoming bonus that ranges from 100$ to 500$ depending on how good your credit is. The bonus will be available once you’ve spent a certain amount of money. For instance, you’re eligible to get a 150$ bonus when you’ve spent 500$ on purchases during the first three months. That means that after you’ve finished your monthly shopping, you’ll get rewarded with some extra money to treat yourself to something nice.

Each credit card has a different type of bonus for the user. One of the cards with the best bonus is the Chase Freedom Flex Card that allows you to earn a 200$ cash back after you’ve spent 500$ after opening your card account. There is also 5 per cent cash back on travel and 3% cash back on dining at restaurants and shopping at drug stores.

Flyer Miles

If you’re a frequent traveler that enjoys exploring new countries, there’s a way to earn a free flight just by using your credit card. Don’t worry, we’ll let you in on the secret. One of the oldest benefits of having a credit card is that you get the chance to earn frequent flyer miles for each dollar you spend. In practice, the system works like this—for each dollar(or two in some cases) that you spend, you’re awarded a free mile. The more money you spend, the more your miles balance grows and you’re closer to getting a free flight.

Depending on the card issuer, the conditions will vary, but the outcome is the same. There is even the possibility of earning extra points for certain shopping categories, so be sure to read the Terms and Conditions section carefully.

Online payments and transactions

With the coronavirus affecting our everyday lives, the way we learn, talk, shop and spend our free time has changed drastically. You no longer have to step foot outside your door to buy the necessities or hang out with friends—you can do it all online and avoid risking your health. That’s why many have turned to online forms of shopping and entertainment and all of these are possible as long as you have a credit card that will allow you to dive into the online world.

For instance, you’re in desperate need of a new blender but feel too lazy to go out and browse the shops? No problem, just swipe your credit card virtually and wait for your package. Or, if your new favorite pastime has become playing video games online and visiting the virtual casino, then you should know that a credit card is considered the best way to deposit cash winnings from casino. What’s the point in earning all that extra money if you can’t use it? Having a credit card will make it so much easier to withdraw your hard-earned cash!

Safety

The last and most obvious reason for saying goodbye to your paper dollar bills is the safety factor. The more money you keep around in your pockets or your wallet, the bigger the chances it’ll get misplaced or stolen. We’re always worried that someone will take advantage of the huge crowd of people in public transport and find a way to steal our wallet without us noticing it. Of course, your credit card can also get stolen, but a simple phone call to the bank will resolve the problem quickly and the card will be blocked.

Also, many of us have a nasty habit of keeping our life savings under our mattresses or in our wardrobes, which makes us perfect targets for local burglars. It’s always a better idea to open a savings account which you can connect to your credit card if you wish and that way you’ll sleep peacefully knowing your money’s safe and sound.

Key takeaways

Hopefully, the article has convinced you that it’s time to file for your first credit card or to finally start using the one that you already have as it’s not only a more efficient payment method, but a safer one as well. It allows you to handle all of your online transactions and you can even earn when making purchases. Don’t wait up and head down to your nearest bank to start enjoying the perks a credit card has to offer.