8 Benefits of Having a Kredittkort in Norge

Have you ever considered getting a credit card? Even though many finance experts advise individuals against using such cards, these payment options can provide endless benefits as long as people use them responsibly. 

Credit cards offer bonus opportunities, reward points, fraud protection, price protection, grace periods, purchase protection, etc. Cardholders are allowed to make purchases even when having no money. Therefore, one should be responsible when spending in order not to end up in debts. 

Grace periods and protection programs vary across card issuers but most of them aim to protect cardholders.

Learn more about the remarkable benefits of using such a payment option in Norway.

Bonus opportunities

Many individuals prefer credit over debit cards because of the bonus opportunities the former provide. Applicants who have recently opened an account are capable of earning one-time bonuses in the course of the first couple of months. Nevertheless, these bonuses aren’t given to all applicants; only to those whose scores are solid. 

In addition, banks usually impose certain conditions on applicants as far as bonuses are concerned. They are required to spend a particular amount of money in order to receive a bonus. Conversely, debit cards offer no possibility for individuals to receive some earnings in return for opening an account. Irrespective of your FICO score, you won’t be getting an initial bonus. Visit this website to learn about the difference between a credit and a debit card. 

Better finance management

Another indispensable benefit of having a credit card is the convenience it offers when it some to finance management. Unlike other payment methods, this option helps you become a much better manager of your finances. For instance, cardholders receive a statement on a monthly basis, including all details related to the purchases they have made in the course of the month, such as the time and place of the purchase, as well as the amount of money they’ve spent. 

Moreover, the information these reports provide is remarkably important to people who have trouble staying on top of their spending. Some issuers send not only a monthly but an annual report to users, summarizing all of their purchases throughout the year. These reports are beneficial in the process of calculating taxes. 

Reward points

Cardholders with exceptional FICO scores are provided with cards that allow them to earn reward points. These bonus points can be later spent on different products and services, such as having a restaurant meal, clothes shopping, gasoline, hotel accommodation, groceries, etc. Once the cardholder reaches the required number of points, these can be exchanged for travel tickets or gift cards. 

The reward options offered to clients are incredibly vast so as to comply with the spending habits of different cardholders. Nowadays, there are various informative websites, such as Kredittkort info Norge, providing assistance to people applying for a credit card for the first time. The information such sites offer to visitors is essential in getting familiar with the rewards offered by different issuers. 

The most effective way of opting for the right card is by checking the partnership issuers have with retailers, hotels, and other organizations. Pay close attention to your spending patterns in order to make the most out of your reward points. For instance, there is no point in choosing a payment option that provides you with hotel reward points if you aren’t a person that enjoys traveling. 

Protection against fraud

Fraud protection is another crucial benefit of having a credit card. In the event of fraud, you will only be held liable to a sum of $50, irrespective of the stolen amount. Additionally, in most cases, cardholders aren’t even held responsible, especially when they let issuers know about the fraudulent activity as soon as they notice the first signs. 

Furthermore, credit card issuers strive to improve security by introducing virtual account numbers, which cardholders can use when making online purchases. Hence, you won’t be using your primary number and risking the safety of all sensitive information. 

Grace period

Another aspect that makes credit cards unique is the grace period these provide to cardholders. When making a purchase, you aren’t required to pay the money at that moment but on another date in the future. In the course of the grace period, cardholders are exempted from paying interest. The length of grace periods varies across lenders, ranging between twenty-one and twenty-five days. Visit this link, https://en.wikipedia.org/wiki/Grace_period, to learn about the types, advantages, and disadvantages of the grace period. 

Excellent price protection

Price protection is a beneficial feature offered by credit cards, which is useful in situations when the price of products drops shortly after cardholders make a purchase. In case your card provides such an option, you will be refunded with the difference between the original price you have paid and the discounted one. 

Nevertheless, price protection programs come with certain limitations. For instance, cardholders are capable of getting a refund in the course of a given period, which is a maximum of several months. Additionally, you will be required to provide proof in the form of an advertisement, showing the discounted price. There is also a limit to the amount of money you can receive as a refund, as well as an annual cost limit. 

Purchase protection

Another type of protection cardholders are provided with is related to their purchases. It refers to the new purchases individuals make with their credit cards in a period of three months following the investment in a particular item. In case the product you’ve bought is stolen or damaged during this timeframe, you will either have it repaired or be reimbursed. 

Purchase protection, however, doesn’t provide reimbursement for all kinds of products. For example, tickets, vehicles, animals, and boats are excluded from these programs. The number of claims you are allowed to make on an annual basis is limited as well. 

Incredible return protection

Return protection is probably one of the most remarkable benefits credit card issuers offer to cardholders. Even if the retailer is unwilling to return the items you’ve purchased, he/she will be obliged to do it when faced with the return protection program of your card. 

Normally, the return period is limited to several months following the shopping, as well as the amount of money you can receive as a refund. Some items like furnishings, jewelry, and household appliances aren’t covered by these programs. 

The bottom line

The benefits of having a credit card are endless. No other payment option strives to protect cardholders in so many ways.

Make sure to use it responsibly so as to avoid debts! 

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