Benefits of credit card Banks often offer credit cards. It is profitable for you. Many people take credit cards because of their problems and difficulties. Actually, these are not free. Behind them is a larger matter. Let’s know the secret truths and be alert.
Smooth buying experience
Lucky people in this world who don’t have a credit card It is said that some people use it. There are strong reasons for that. When you want to buy something. if you don’t have money in hand. you can buy it with a credit card. Although it looks easy. there are many challenges here.
Credit card charges to customer
Some banks charge an annual charge and statement fee for issuing credit cards. New card takers should avoid these charges. Some | Banks issue the card without charging these charges.
How interest is charged on Credit Card
Received money used through the card. The bill amount should be paid to the bank within 50 days. Interest on full payment does not fall Heavy interest, if not paid will take How long is this interest free period. It is different for each person. If the money is not paid on time. Late fee will also be charged.
Credit Card Bill: What is Billing Cycle, Due Date and Minimum Payment? How it is Calculated
If your card bill payment due date ends on the 5th of a month, the new billing date starts from the 6th. Initially, the expiry date is 50 days. If there is no understanding of this. the burden of charges is inevitable.
Confusion while paying your credit card bill on time
A bill comes for using a credit card. That money has to be paid. But that bill will be confusing. It should be observed carefully. In that, check whether any charges have been imposed horizontally. If there is a difference… a complaint should be given to the bank
Credit Card Offers on Shopping, Travel and more
There are cash back offers on booking various tickets. For them Some people use credit cards. Make full use of offers gifts and reward points. Thus, the burden of charges can be reduced to some extent.
Do credit cards automatically raise limits?
Bank money can be used up to a certain limit through the card. If the bills are paid correctly. this limit will be increased. Otherwise, not only will the limit be reduced by 10. They will be charged heavy interest and charges for delaying the payment of bills.
Is the facility of cash withdrawal available on all credit cards?
Benefits of credit card You can withdraw money from an ATM through a credit card. It carries an interest of up to 3.5 percent per month. Some banks charge a fee. A fee of up to Rs.500 will be charged for a draw of Rs.1000. So, it is better not to withdraw money from ATMs through credit card.