4 Reasons To Make The Switch From Credit Card To Digital Card In 2022
For Millenials and other new earners exploring avenues of smart purchases, many try to apply for credit card. Whether you’re a habitual spender or thrifty with an investment tick, a credit card is a one way to manage your finances. However, there are a number of hidden costs and conditions, in addition to the cumbersome application and approval process making it a treacherous deal.
In 2022, the digital wave has penetrated the farthest corners of India. This has given birth to a smarter alternative to credit cards: A Digital Card. Paired with its high accessibility, better security, offers and CIBIL-less onboarding, digital cards make it an attractive deal for first-time earners. And even those who are having second thoughts about credit cards.
Let’s dive deeper to see why you should switch from a credit card to a digital card in 2022.
Free onboarding
To get a credit card, a CIBIL score is a must. For first-time applicants, it can be quite tricky to acquire a credit card. It’s because they usually lack a long and reliable credit history with banks. It may take months or even years to convince your bank to issue a credit card.
A digital card, on the other hand, is simple to get. All you need is to apply for it with basic KYC documents. And if you are looking for a physical alternative to a credit card, LazyCard even offers a flat ₹500 cashback on your first card transaction.
Making the process even simpler, every step of the application is online; can be done with their app as well (iOS or Android). And also takes just minutes to get started.
No hidden charges
Credit cards are notorious for hidden charges. Even managing a subscription with them can be cumbersome as the process of cancellation or pause makes one jump through multiple hoops. Then there are yearly maintenance, conditional withdrawal fees and other charges associated making the cardholders cautious.
In contrast, a Digital Card, like LazyCard by LazyPay, promises to be free from any hidden charges. Which is appealing to people as they appreciate the transparency of service.
In addition, when you apply for a credit card, banks charge an application fee. While a digital card provider usually onboard new users without any charges. LazyCard even offers attractive cashback offers on all transactions. There are no maintenance charges. No joining charges. And no other hidden charges to make you hesitant of using the card.
Fraud protection
Everybody has heard cases of credit card fraud. Online phishing and identity thefts are rampant. While losing a credit card — is an outright panicky situation! Bid goodbye to such wariness with the LazyPay digital card.
Another relief is that with every transaction to process you get an OTP. In case of swiping a credit card, you tend to rely on the same pin for every third-party merchant.
In case you sense a theft of data or any insecurity with your account, on LazyPay app (iOS and Android) digital card’s one-tap account pause is handy. While the time it takes to report similar issues with your credit card may turn out to be costly.
Cashbacks
While a credit card may offer discounts every now and then, nothing beats a sure-shot cashback on every purchase. LazyCard offers a flat ₹500 cashback on the first transaction. And for every subsequent one, you get up to 5% cashback!
Owing to the smoother purchase and checkout process, coupled with instant cashback, is another great reason to prefer digital cards over credit cards.
The takeaway
While still a traditional choice, credit cards come with multiple limitations. In 2022, a ripe digital age for India, digital cards are bound to make their way for the reasons aforementioned. If you’re looking to make a switch or start off your digital financial journey, check out LazyCard by LazyPay. With speedy onboarding, cashback and flexible payments, it’s rightly the credit card alternative that young India needs right now. There is no joining charge (instead you get a flat ₹500 cashback) and maintenance fees.
With clear ease and convenience taken care of, it’s time now you switch from credit card to digital card!
