7 Must Follow Credit Cards Advice
Experts’ credit cards advice is here handle it safe and secure. Smart use of credit card will not just save your money but will lead you to a hassle-free lifestyle when you are in need of money. Handling your cash system is the key task to keep yourself smart and tension free. Learn how to manage your credit card smartly.
1. Most of the credit cards don’t require any annual charges. Only a few credit cards lay the annual charge, customers be sure about it and do not end up paying annual charges thinking it as mandatory. Other banks which doesn’t charge you any annual charges but will have the terms that you must have used the credit card for purchases upto the given minimum limit. So, before taking a credit card, compare all these terms and go for the best that suits you.
2. There are scams around saying that a credit card holder will be linked to health insurance and will charge the premium for the respective health insurance, but nothing as such exists. Avoid such information and do not go for those cards. There are possibilities to charge from you “card production” charges. Again, there are no such charges that exist. When you are getting a credit card, make sure that there are no such additional non-existing charges and go ahead only after all these confirmations.
3. Never withdraw money using your credit cards as the interest will be calculated from the day of your money withdrawal. For example, if you withdraw Rs. 10,000 you will be charged with an interest amount of Rs. 300 as monthly interest.
4. While repaying the amount to your credit card account for your usage, be sure to pay it a day in advance if you are paying it by cash, pay it four (working) days in advance if your payment mode is cheque and make it two days earlier if you are paying by online. Missing out any of these limits will lead you for extra charges or fine.
5. Payback the amount on time. In case if you miss out the repayment of the used amount on time, instead of going for minimum monthly charges, change it to payback the credit amount in monthly EMIs this would be better and can save you from lot of other charges. For this monthly EMIs, 18% of interest is applicable.
6. Be attentive while scratching your credit cards during your purchases. There are possibilities of your cards being scratched (billed) twice. Before signing in the slip after billing, be sure to double check the details on the slip. At times you will not notice the differences between 100s and 1000s while you are busy in shopping. As much as possible, stay at the billing place until you get back your card in hands as there are possibilities of your card being used in skimmer machine to collect your credit card’s technical details to make a duplicate credit card of yours.
7. Every time, after your card is being used, you should get an SMS with details about how much amount you have spent, what have you purchased and where have you spent the card at. At any case if you are not receiving it, call up the customer care office and confirm about the same. Most importantly, whenever you change your mobile number; never forget to update your new mobile number with the bank which will help you during emergencies while away from the reach of your bank.
You can handle your credit score effectively by following these credit cards advice in a better way. These are all not just basic advice but must follow advice which most of the users do not consider given so much of importance. The given 7 above fundamental points will keep you smiling.