Credit Card Tips Avoid These Credit Card Mistakes Know Details

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Nowadays people are preferring to use credit card, debit card, UPI payment, net banking instead of making cash payment. With the changing times, there has also been a big change in the way people spend. Earlier people used to earn and then they used to spend. But, now he spends first and then pays his bill. Credit card is a kind of loan, then the bank or financial company gives it to any person.

People spend the whole month shopping, bill payment etc. by credit card and after that finally pay their bill. By the way, there are many benefits of credit card as well. Like many e-commerce companies give extra discount on payment through credit card. Along with this, you also get the benefit of fuel surcharge on the credit card. But, if you use this card carelessly then you may suffer loss instead of profit. If you also use a credit card, you should avoid making some mistakes. So let’s know about those mistakes that any credit card holder should avoid doing-

Keep in mind the credit limit
Many times people make a common mistake while using a credit card. That mistake is not taking care of the credit limit. While shopping, keep in mind that at the end of the month you will have to pay the bill for all these things. In such a situation, shop only after keeping in mind the credit limit. Otherwise, later you can get into debt. Along with this, it can also have a very bad effect on your CIBIL score.

Do not do cash transaction through credit card
Keep in mind that the facility of withdrawing cash through credit card is also given to the customers. But, in such a situation, the burden of huge interest increases on you. On doing any kind of cash transaction, the company or bank can levy interest on you at the rate of 2.5 to 3.5 percent. For this, do not withdraw credit card cash if there is no need for it.

Use balance transfer facility wisely
For the convenience of customers, credit card companies also provide balance transfer facility. By using this facility, people often pay the bill of their old credit card. But, before doing this, you must think twice because by doing this many times people get caught in the trap of credit card debt and take loan facility again and again to get out of a debt.

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