Thinking about getting a personal credit card? Here are some of the general advantages of credit cards and how to get a credit card in Kenya.
When you are ready for a credit card, you truly want to know what you are getting. Banks nowadays provide a comparison tool on their website, to help you weight up their different cards terms and advantages – so it is simple to make an information decision with some internet research and how to get a credit card in Rwanda.
Control spending with credit limits
All credit cards come with a restriction. Being capable to increase this limit over time will depend on your payment history. Paying your account on time, every time is best card management that keeps you in control of your credit card, and your credit profile risk, in the green.
There is also a credit limit on your budget facility. You can pick budget for in-store payments from $100, but it is more helpful for bigger buys, like future.
Earn easy rewards
Credit card rewards exist to push you to use your credit card, and they are extremely persuasive indeed. With a simple flat-rate card that pays the same amount on every purchase, you can obtain 1.5 percent or even two percent of every dollar you spend, either as point or as cash or miles to redeem for travel or other things. Spend $1,000 a month, and you could earn $180 – $250 a year without any unique effort.
Other cards pay higher rewards in specific spending categories such as gas, groceries, or restaurants. Gather a handful of cards, and you can amplify your rewards considerably.
Credit cards help build credit
You do not need to have a credit card to have best credit, and you definitely do not have to carry balance. But careful use of credit card is the one top way to better your credit scores, and best credit opens many doors. It makes it simple to find housing, whether a potential landlord is checking your credit before giving you keys or you are applying for a loan to buy a home. Insurance agents, cell phone providers, and utility firms also might use your credit history to determine your eligibility and even your rates. It can even improve your chances of landing a job, and many employers run credit checks on work applicants.