Today Getting a Credit Card is very easy. Whether you are an employee or business man if you have all the required documents getting a credit card is a job of 7 to 14 days. Several banks provides several type of credit cards. While applying for a Credit Card know more about the type of Card you are going to apply. Credit Card is nothing but a deal between you & the bank. Using a Credit Card you can take Credit from the bank. Credit Card is a smart way of shopping but if you are unknown about the proper use of a Credit Card it can create problems. Let us discuss below what are the factors you need to take care before operating a Credit Card.
1) Before applying a Credit Card read well to the term & conditions. Know the year charge, rate of interest & credit limit.
2) There can be a Chance your Credit Card statement will show wrong. Verify your monthly Credit Card statement carefully.
3) If you did purchase using your Credit Card clear the credit before due date. Generally Credit Card charges high rate of interest. if you are not paying in correct time you have to pay more later.
4) In case you are paying the minimum amount every month. Pay little more then the minimum amount. Minimum amount is nothing but the only interest, so paying little more then the interest helps to reduce your credit & the next month minimum dues.
5) Avoid to withdraw Cash using Credit Card.
6) Don’t share your Credit Card with anyone. Keep secured your Credit Card number, expiry date & pin.
7) In case you lost your Credit Card immediately inform this to the bank Credit Card department & block the Card.