Credit Card Tips: As the number of credit cards is increasing in the country, it is also very important to know about its correct use. Today we are going to talk about smart ways by which you can not only make the best use of your card but can also increase your credit score. Through this article, we will tell you how to use your card properly. How to avoid minimum payment option.
According to a report, the number of credit cards in the country is expected to touch 100 million this year, nd the number of credit cards in circulation has reached a record high of 8.65 crore in April 2023. Let’s know how to use credit card in right way. and make credit score will remain strong
Know how to use your card properly
If you fail to pay your dues in full, you may have to face interest on the same. Never pay late (Credit Card Tips) payment of credit card bills can cost you dearly. This can drop your credit score by up to 100 points. Cut down on credit card spending As a precaution, try to limit your spending to 30 percent.
Consider spending more when you make sure to pay bills in full and on time. Read the terms and conditions carefully You must be well aware of the annual fee, late payment penalty and terms and conditions of your card. Keep card information safe Never share sensitive credit card data, such as card number, expiry date, CVV number and password, with anyone. SAFE YOUR CARD Always keep your card in a safe place.
If you lose your card, notify the issuing bank immediately. Keep an eye on your credit card statement (Credit Card Tips) Always keep an eye on your credit card statement and inform the bank immediately about any transaction done by you. Disclaimer: Investment in mutual funds and stock market is based on risk. Consult your financial advisor before investing in share market. our website will not be responsible for any financial loss.
