Today let’s talk about credit cards. I also have a credit card and I have been using it for a couple of years. So I have come to know how to use it well. You must have heard from many people do not get into the mess of credit cards. But if you come to use a credit card properly, then it will prove to be one of the best deals of using money.
I prefer to use the Credit card in the proper way, and take advantages of CIBIL SCORES, Discounts, and Offers with Credit Cards.
With a credit card, you can buy things like online-offline shopping, while you have 0 rupees in your bank account. But the money you spend with a credit card, you also have to return it to the bank in 45-50 days, without interest on it. You have to spend today and pay it after 45-50 days, so using a credit card proves to be a good deal. There is some software internationally which is paid monthly and their payment gateways were of credit card, so it is important to you have your own credit card.
Discount’s And Offers:
There is always an offer on a credit card so you can avail of the service at a low price. And after shopping, you get some points that you can redeem and use to get better discounts on next time shopping.
Airport Lounge Services:
Airport lounge service is available on the credit card, which most people. This is a service that you get at the airport for just rupees 1 or 2. In the airport lounge, you can rest and eat food and beverage free of cost. I was in Indira Gandhi International Airport and I was used the Credit card to access airport lounge and card charges Rs something rs 2.50.
Airport Lounge access service is not available on all credit cards, that have different criteria but you can find out by calling your bank customer service or visiting the bank and apply for it.
Loan And CIBIL SCORE
If you have a credit card, then you get a loan from your cibil score, but your cibil score should be good. Your CIBIL SCORE will good if you return the payment to the bank on time. The CIBIL SCORE depends on how you pay back spent money to the bank on time. Good cibil score gives you a good loan for your personal use, it also helps to increase your credit limit.
You must have to check your CIBIL SCORE every 3 Months. It will help you to manage your CIBIL SCORE.
The Disadvantage of credit card:
We have discussed the advantages of credit cards, so now we also see some disadvantages. The bank gives us a credit card limit to spend. But this limit is more than our monthly salary. And we spend more money due to the temptation of more dice. And we have to return that money to the bank in 50 days. and if we did not pay the last bill so they charged high interest, and we have to pay it.
The interest of Credit bill: When you did not return the money within 50 days or you forget to return the money, then you have to pay a yearly interest of up to 37% on the entire amount used. Therefore, credit cards should always be used with monthly money management.
Avoid high interest:
If you want to avoid high interest, then you should not always use the full limit of the credit card unless there is something important.
AUTO DEBIT: We sometimes forget to pay the bill of a credit card while there is full money in our bank account. A good solution is to use the option of auto-debit. Credit companies have their applications from there you can activate your Auto Debit option to Pay on time and from that, you will escape from unfortunate high interest on the bill.
When you spend an extra amount of money from a credit card and you don’t have much money not to return, then? After your credit card bill generated, you can convert that credit bill into EMI in 3,6,8,12,15,18,24 months. But, you have to pay taxes on every EMI, because of this, you have to pay money to the bank more than spent.
Now the conclusion is that if you getting good offers and Discounts on Credit Cards and you having a good knowledge to use as a pro you should go for it.