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Paying for Large Purchases


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Having a credit card is one of the easiest ways of obtaining credit and if you know how to use yours wisely, you can benefit in a whole host of different ways.

You can use your credit card to pay for everyday bits and bobs like grocery shopping or restaurant bills as well as larger one off purchases such as flights, hotels bills or even to buy a car or any household items you need. Convenience is therefore one of the major draws of having a credit card.

It is not always possible to have enough cash to pay for a larger purchase upfront and this is where credit cards come in handy.

Credit cards are also useful if you have any unexpected costs such as emergency car or home repairs. From broken boilers to blown gaskets, your credit card can be used to pay for goods or services that you need immediately but may not necessarily have the cash for.

You can use your credit card to pay for the goods or services you need, whether it’s a planned or emergency purchase, and then settle your credit card balance over a set period of time.

If you pay your balance in full by the due date shown on your statement then a credit card could be viewed as a means of obtaining free, short-term credit. This principle does not apply if you do not settle your balance in full as you will then pay interest on any outstanding amount.

One way of using your credit card to make a large purchase without paying interest is to use a card that offers an interest free period on purchases.

An interest free credit card means you can take longer to pay off your balance in full but without paying any additional interest.

If you choose to pay for your purchases in this way then remember to work out how much you need to repay every month to ensure that your debt is cleared by the time the 0% interest period ends.

Credit cards also offer a level of purchase protection that you do not get with cash or debit card transactions. The Consumer Credit Act 2006 stipulates that card issuers and retailers must take joint responsibility for faulty purchases so you won’t be out of pocket if you use your credit card to pay for goods that aren’t up to scratch.

Credit cards additionally offer more protection against fraud than other methods of payment and if your credit card were used fraudulently you would not be expected to pay for the counterfeit purchases.

When you are shopping around for your perfect plastic companion then investigate the 0% interest options offered, such as the Purchase Credit Card , and take advantage of introductory rates.

Adam Singleton writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.


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