Smart Uses of Credit Card

Credit card By Rajendra Oct 11, 2022 Image Credit - Unsplash

Monthly pay

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pay bill on time - don't miss

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It's a good idea to maintain your credit utilization rate under 30%.

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Knowing the terms of your credit card agreement might assist you in monitoring of your payments and preventing unforeseen fees.

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Credit cards should be used to obtain free credit rather than paying huge (24% to 48%) interest rates on rollover dues.

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choose small withdrawals, and use them only for emergencies. Interest rates range around 2% to 4% monthly.

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Smart Uses of Credit Card

Monthly pay

pay off your credit card amounts in full every month to avoid interest from charging.

pay bill on time - don't miss

You may suffer a loss in credit score and also incur late fees and penalties.

It's a good idea to maintain your credit utilization rate under 30%.

keep eye on balance

Credit Utilization Ratio = Total Credit Limit/Credit Utilize

Knowing the terms of your credit card agreement might assist you in monitoring of your payments and preventing unforeseen fees.

Understand credit card terms

Credit cards should be used to obtain free credit rather than paying huge (24% to 48%) interest rates on rollover dues.

Roll over interest

choose small withdrawals, and use them only for emergencies. Interest rates range around 2% to 4% monthly.

Cash withdrawal

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