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What are the benefits of using a credit card instead of cash?
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The main benefit of using a credit card instead of cash is that you can build up an interest-free balance. You can use this balance to cover any purchases, and then pay off your debt in full each month without accruing additional interest. 2 Another benefit of using a credit card is that it provides you with protection from theft or loss. If something happens to your wallet or purse, you can call your credit card company and cancel the card immediately. 3 Using a credit card also offers rewards such as cash back, airline miles, or points for certain purchases. This can help you save money on future purchases. 4 Finally, using a credit card gives you access to financing options that may not be available if you were paying with cash. For example, you could get a loan or line of credit to purchase large items.