Smart Uses of Credit Card

Credit card

Smart Uses of Credit Card

By Rajendra

Oct 11, 2022

Image Credit - Unsplash

Monthly pay

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

Image Credit - Unsplash

pay bill on time - don't miss

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

Image Credit - Unsplash

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

Image Credit - Unsplash

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.

Image Credit - Unsplash

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.

Image Credit - Unsplash

Roll over interest

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

Image Credit - Unsplash

Cash withdrawal

More Stories

Tata Steel good option to invest

IPO-Electronics Mart India High Grey Market Premium

Checklist to select right Mutual Fund