Benefits of a Credit Card
A credit card can be a useful addition to everyone’s purse or wallet. There are many benefits of having a credit card. It works like a loan where you avail of credit to buy goods or services and pay it back later. To apply for a credit card in Ireland, you must be over 18 and have an income over a certain amount. It is also important to know both how to use a credit card effectively to manage your finances, and the benefits of credit cards too. Here are some tips below:
1. Convenience
One of the main benefits of credit cards is that they are easy to use and are a widely accepted way to make purchases online or in-store, at home or abroad. In addition, they eliminate the need to carry large amounts of cash, reducing your vulnerability to theft and loss. Credit Card money transfers allow you to unlock available credit from your credit card balance and send to your current account. The Avant Money One Card is the only card in the market where you can transfer 95% of your available credit limit over to your current account. Meanwhile, credit card balance transfers are another important feature of credit cards allowing you switch balance owed on a credit card to another lender such as Avant Money - another credit card benefit to avail of.
2. Cashback and rewards
Avant Money credit cards offer €150 cashback when you get an Avant Money credit card. Avant Money credit card customers also join the Avantages loyalty programme which offers great savings, competitions, and more.
3. Purchase protection
Another advantage of credit cards is that paying with a credit card makes it easier to avoid losses from fraud. When your debit card is used fraudulently, the money is missing from your account instantly. Legitimate expenses for which you've scheduled online payments for may bounce, triggering insufficient funds fees and affecting your credit. Credit cards can offer a degree of protection against this and help with getting a refund.
With Avant Money, if your credit card is used without your knowledge or consent, or goes missing, you should immediately call the helpline. They will block your card immediately, investigate any unrecognised transactions and assist you in obtaining a refund through the Mastercard chargeback process if possible.
4. Emergency access to cash
In addition to the general convenience of a credit card, they also offer you emergency access to cash or finance you may not otherwise be able to access. Each credit card will have a credit limit giving you access to credit for unexpected expenses. This can in many instances be less expensive than going into an overdraft with your bank.
5. Digital wallet
Most credit cards today offer a digital wallet allowing you to pay securely from your phone, smart watch or other device through Google Pay or Apple Pay - another benefit of credit cards.
6. Online credit card management
Managing your credit card today is much easier with online services. Avant Money allows customers to manage their credit card via their online account or the mobile app. This allows easier payments to your credit card, the ability to review transactions online, as well as amend or set up a direct debit at the click of a button.
How to Use a Credit Card
Credit cards are easy to use but you should also know how to use your credit card effectively. Good credit card management practices include:
- Understand your cards Terms and Conditions and reward offers to maximise benefits.
- Try to make payments on time to avoid fees.
- Pay the full balance each month to avoid interest charges.
- Monitor your spending through regularly reviewing your transactions.
- Choose the right credit card for you which aligns with your spending patterns.
- Practice good security and keep your card and information safe to avoid fraud.
Knowing how to use a credit card properly, provides you with the opportunity to avail of all of the benefits above. Explore Avant Money credit cards’ today.
Warning: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Lending criteria, terms and conditions apply. Representative example: Assuming credit limit of €1,500 (at standard variable rate 16.8%, typical APR 22.9% (Annual Percentage Rate), repaid in equal instalments over 12 months, total amount repayable is €1,666.50. Total cost of credit of €166.50, includes government stamp duty of €30.
*Offer valid from 2nd February 2024. €150 cashback on Reward+ card subject to minimum monthly spend of €500 in first three months with cashback payable within six months of account opening. €150 cashback on One Card subject to a balance transfer of at least €1,000 within 90 days of account opening, cashback payable within six months of account opening. Certain transactions are excluded, see details at Credit Cards FAQs
Bankinter S.A., trading as Avant Money, is authorised by the Banco de España in Spain and is regulated by the Central Bank of Ireland for conduct of business rules.
