INSUBCONTINENT EXCLUSIVE:
Breaching the charge card limitation is ill-advised as it impacts the credit profile of usersThe COVID-19 pandemic has extremely affected
the income of the working population as companies have either cut jobs or wages
Even those running their own companies have actually been having a hard time to preserve a stable, routine income due to recurring lockdowns
In such a scenario, using charge card can assist in conference current household requirements and expenses on medical emergencies or
long-term financial objectives such as higher education of kids and their marriage
Though charge card can help people tide over instant monetary crunch, they require mindful management as even a small oversight can land
users in a big financial obligation
Breaching the credit card limitation is ill-advised as it affects the credit profile of users.For novices, here are a couple of ideas on how
to make the many of a credit card.Time your purchasesEvery credit has a billing cycle
Make yourself familiar with the costs generation date to increase your interest-free period
If a card user makes a purchase right after the credit card expense is created, he/she can delight in up to 45 interest-free days, in some
But to do that, the outstanding amount needs to be nil.Pay bill before due datePaying charge card bill on time improves credit profile with
the bank, leading to increased take advantage of the credit card service provider such as better deals on personal and other loans and
increased costs limit.Follow the rewardsSome charge card come with additional rewards for investing sensibly
Some charge card offer benefit points on particular purchases and others offer benefits such as open door to airport lounges
These points can also be redeemed depending upon the bank's policy
Maximize these rewards.Avoid money withdrawalsBeginners, sometimes, tend to withdraw money from ATMs utilizing these cards
Beware: ATM withdrawals attract heavy charges and from day one
There is no interest-free period for money withdrawals on credit cards.Try vehicle debit from accountAgain, the interest on late charge
To avoid incurring charges on postponed payment, choose the auto-payment alternative from your account
By doing that, you will permit the banker to automatically withdraw the credit card costs from your account on the due date.EMISay you are
stuck in a financial scenario and not able to pay the bill in full, Ask the charge card company to transform the outstanding quantity into
This way you can decrease the debt burden on yourself and will have the ability to repay the expense in easy instalments.
