It is often safer to use credit cards than a regular bank card, because you are better protected against fraud. This is because the scammers will not have access to your regular payroll account.
Are you in doubt about getting a credit card? Here are useful information on credit card benefits – read here and be wiser
There are many good reasons to pay by credit card, such as greater security, discounts and other benefits and free travel and cancellation insurance. Other benefits of credit cards are these:
- After a transaction, you have good control over the transaction and thus you can make sure no money is withdrawn that you did not approve in advance.
- If you are exposed to theft or fraud, the credit card company will take the responsibility.
- The money is not automatically deducted from your personal account when you pay by credit card.
Good reasons to use credit cards
It is often safer to use credit cards than a regular bank card, because you are better protected against fraud. This is because the scammers will not have access to your regular payroll account. You also have the option of receiving money back from the credit card company if the item or service you purchased is defective. In Norway, the laws and regulations governing credit purchases are regulated by the Finance Agreement Act, and you are therefore on the safe side when dealing with credit cards.
You can get money back if you know when interest rates start to run, and as long as you pay the bill before the due date. If you comply with these factors, using a credit card to pay for goods, travel or services is a great advantage. Paying by credit card is especially beneficial when shopping online or booking a trip abroad. The reason you can get money back is something called Chargeback. This means that you as a consumer can get money back from the credit card company if the seller does not respect the rights of the consumers or is bankrupt.
This gives you extra security by using a credit card, which you would not get if you had paid with a regular credit card.
Norwegians buy holidays by credit card
A recent survey conducted by the bank, Weshare Bank shows that as many as 320,000 Norwegians buy their holidays for money they have borrowed or by credit card. When it comes to travel, there are some good arguments for using credit cards, as you can get free travel and cancellation insurance here.
However, it is important to remember that consumers have no rights if they have used the bank transfer for payment of services or goods abroad.
More people use credit cards today
A report from SIFO (State Institute of Consumer Research) that was conducted recently shows that more people use credit cards today than before. Nine years ago, approx. 40 percent said they had used credit cards during the past year. This figure has risen to 70 percent this year. 26 percent of those surveyed said they did not pay the entire bill on payment due. This is a small reduction compared to 2012, when 29 percent of those surveyed said they did not pay the entire bill by the due date.