Any sensible individual might say that you should never allow your debts to pile up. And, to be fair, it has been observed that most of the debts that accumulate are due to inappropriate use credit cards.
On the contrary, there are many who are of the opinion that you must make use of credit cards to shop for gadgets, which might include any gadget under the sun like an Android smartphone, an iPhone or iPad, or any device with your favorite operating system.
Are individuals with bad credit eligible?
There are several instances when you can come across people that use these cards to improve their credit score. Prior to delving deeper into why it is a good decision to do your tech shopping with credit cards, let us briefly find out how you can improve credit by making purchases with your plastic cards. This also means that the same principle will apply for credit cards for people with bad credit.
If you buy any device or gadget with the help of credit card where you have to make monthly payments, you can make the repayment process a sincere one, thereby proving that your repayment habits have improved and that you can avail financial aid in future.
In this article, let us find out why you will have made a good decision if you make so-called “tech purchases” with your credit card.
Why using credit cards for buying your Android dream smartphone makes sense? Read the paragraphs below-
When you shop for a gadget, you are oftentimes asked whether or not you want extended warranty but you are in a dilemma whether you should shell out those extra dollars for the same. But if you are using a credit card, you don’t feel the pinch. So, you can go ahead and use the plastic card for extra security of your device. Moreover, you will come across many credit cards that offer extended warranty with any purchase of tech gadgets by default.
Protection of phone
Let us say, you are buying an Android phone, or for that matter iPhone. Usually, the plans that come with extended warranty are quite expensive. However, there are such credit card companies that will offer provision of phone protection plans. You might have to shell out an amount as deductible but that should not pinch your wallet.
Provision to use 0% APR (Annual Percentage Rate) card
If you are planning to lay your hands on the latest smartphone or any tech device, it is quite likely that you will want to buy so that you don’t feel your wallet getting strained. So, the best way is to pay with your credit card that offers the provision of 0%APR on the card.
There are quite a number of plastic cards that offer 0%APR so that you sign up with the credit card issuer when you have found the product satisfactory during the promotional offer period. So, reap the benefits of this feature. It would be a wise move if you opt for a card that has the longest offer period of 0%APR on the card.
However, since you are using your credit card, just make sure you adhere to the monthly repayment schedule religiously. This will not only allow you to pay off your debts at the earliest but will eventually improve your credibility over a period of time.
So, make the best use of these circumstances. By doing so, you win in two ways; firstly, you become a proud owner of a latest gadget and secondly, you improve your financial credibility that appears in your credit report.