How to use credit card wisely

How to use credit card wisely

There was a time when a person has to apply for a loan and wait for days to get the loan sanctioned and more days to get the money in hand. The banking system has evolved to a greater extent where you carry your account in your pockets. Mobile technology has made it possible for you to carry out your transactions by sitting in one place and within seconds. There are states of the art designed Applications that give you the best user experience when it comes to banking. 


Whether it comes in the category of government or private, most banks have their Apps on the Google play store. One can download, easily register, and can perform banking operations. One of the facilities provided by banks is a credit card. Yes, you heard right, a card which gives you the authority to borrow money for your instant use. You have to enter the PIN, and the rest is just a cakewalk. Instant cash loan online has become the new normal. Banks like HDFC, AXIS, SBI, PNB, etc., provide credit card facilities online with the best user experience. It’s essential to trust a bank that is stable in terms of its presence in the market. One should not choose a bank that is listed defaulter by RBI. 


Online transactions need a good server so that the payments are made in seconds. Credit cards will give you instant cash as a mini loan, but you have to pay back the amount at the end of the month with interest applicable. Whether you are rich or middle class, you will have to borrow money someday, and a credit card is the best option you have. As for the instant loan, you don’t have enough time to go to the bank and borrow money. 

Is it challenging to use a credit card? No, it’s not but what’s important is to know how to use it wisely. Before we know how to use a credit card wisely, let’s understand what makes them so attractive and influencing:


To avail discounts: Nowadays, when you purchase something, you have more chances of getting impressive deals on credit cards, attracting you to do transactions through credit cards. So if you are looking for discounts on the items you purchase, you can opt for using your credit card.


Cash back and rewards: Credit card facilities give you cash back on almost every purchase you make and reward points that add up in your credit history, and you can avail yourself of those points after some time. That’s a lucrative deal for the consumer.


There is ample time to pay back: you have to clear all your credits at the end of the month. Even after that, you get a safety window of 30 days more. So you get an ample amount of time for paying back what you borrowed. It relaxes the stress of the consumer and makes it a good option.


A credit card can be applied by going to the bank, or the bank itself will reach you and handle you the credit card facility. Let us know the things to keep in mind so that you can use it wisely.


Keep billing cycle in account: Like everything you borrow has to be paid back someday. So is with the credit card facility. It caters to your urgent loan requirements, but you have to pay it back at the end of the month. One should always keep his/her billing cycle in mind so that he/she doesn’t forget to pay the bills. Else they will be facing a penalty from the bank authorities.


Never share the credentials: when it comes to online transactions, one should always keep credentials secret. Hacking has also parallel evolved with technology. Many people find themselves in booby-trap set by hackers as they share their credit card credentials like PIN, OTP, etc., on different apps and websites. So it would help if you were highly careful while using your credit card anywhere and never share your credentials with anyone.


Know your credit card’s limit: credit cards are of different limits- Silver, Gold, platinum, etc. they have other credit limits. So it’s wise to know the limit of your credit card as it will help you make your purchase easy. It’s wise to use the credit card as a last resort and within the limit. 


Using credit cards in different countries: Before you apply for a credit card, know if your credit card is eligible to make payments in other countries. If you are a traveller, you should opt for an international credit card facility to not have to spend from your pockets at that time. It will make your travel a lot easier as you don’t have to worry about converting the currency.


Credit card maintenance fees: though the banks don’t charge any amount on maintenance of credit card, it’s wise to know all the details and any cost set every month to care for your credit card. You should understand all the terms and conditions of the credit card facility provided to you so that you cannot pay any hidden charges.


Choose a high tech advanced bank: for a credit card facility, always choose a very stable bank and highly advanced when it comes to technology. Some banks have bad servers, and the transactions may get stuck in the middle. Choose a bank that has one of the best servers to make your transactions in less time.

Using credit cards is easy and efficient, but one must keep all these points in mind while using them. It is an easy cash loan that supports your instant money requirement. But it’s essential to use it wisely and at the correct time. So before applying for a credit card or using it, always know the ins and outs of this fantastic instant cash loan facility. After learning all the details, you are not going to hold yourself back from using this facility in brief.

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