CREDIT CARD

 

The effective use of credit card enhance your credit score award cash back points and improve your financial status. 

Some important rules of using the credit card are as follows. 

1.Full Payment

Avoid minimum payment because in this case your debt remains as it is and it affects your credit score and reduce extra payment of the bill in form of the interest. 

2 . Make payment  on time

HDFC CREDIT CARD

2. Make Payments on Time

Bill of the credit card must be paid on time Or before time and it will be better if you resort to auto debit facility of the credit card bill. 

3. Don't use full limit. 

Don't use full limit of the card use as per your requirements not as per your desires because needs can be fulfilled but desires are always remain burden and one loose one's mental peace also. 

4. Reward points

Rewards points are obtained on every expenditure according to bank policy. These rewards points can be convert into money or things according to the policy of the bank. This will be extra income. 

5. Regular use of credit card is not good.

Have emergency fund and dont use the credit card frequently for your every  Expenditure. Because you will have to deposit the bill of the credit card on time. If you are not able to full payment of the card then you will have to deposit minimum balance and that will not reduce the bill amount so it will be extra expenditure. 

6. Check statements regularly. 

Check  the statement regularly to track the expenditure. One can analysis which is good and which is expenditure . One can come across discrepancies, which can be rectified. 

7. Be careful about offers. 

Offer are not free, there is some hidden policies, hidden charges also. Try to understand offers given to increase the sells not for your benifits So purchase when it is necessary otherwise avoid it. 

8. Avoid Using of credit card to show off

It is seen, many a times fool credit card holder purchased the things which are not in their wish list, but to show they do this. This practice must be avoided. 

9. Use of different cards. 

Try to have different cards and use accordingly because there are cards which are useful in travelling, which are useful for refill the fuels... By using credit card purposefully and specifically one can get much benifits. 

10. Have customer care number. 

Customer care number is very important and essential to contact for some adverse situations. One can immediately report to the bank in case of any frauds. 

These are my views and use your own discretion before following it., so if you like then share it. Thanks.