Don’t make these credit card mistakes in 2020
Tips For Credit Card Users
Credit card transactions do not attract interest during this period. If you pay the money spent then you will not have to pay any separate interest.
Credit card demand in cities has increased in recent times. Credit cards are commonly used by people under the plan of first purchase and later repayment.
Apart from instant payment by credit card, it offers other benefits such as reward point, discount, cashback, etc.
After coming in the new year, we are telling some common credit card mistakes in this news which you have to avoid.
Withdrawing cash from credit cards should be avoided. Do this work only when it is very important. You will have to pay more interest on the credit card cash.
Therefore, avoid withdrawing cash using a credit card in 2020.
Credit card users should also avoid the responsibility of paying the minimum balance due. Try to pay the entire amount only once. This is usually one of the biggest mistakes.
When credit cardholders are unable to repay their entire bill amount on time, they start repaying the minimum amount due.
This will also spoil your financial situation. Therefore, from 2020, try to repay credit card bills completely and on time.
Explain that a credit card has an interest free period which is the period between the date of the credit card transaction and the scheduled date of its payment.
This can be anywhere from 20 to 52 days, depending on your credit card transaction and the date of your card issuer.
Credit card transactions do not attract interest during this period. Meanwhile, if you repay the money spent then you will not have to pay any separate interest.
Most credit card payers have a reward system. In this, the reward points collected at the time of purchase can be redeemed.
However, sometimes it has an expiry date, some cardholders are not aware of it.
Typically, this period is usually between 2-3 years after which they cannot be redeemed. So don’t forget the reward point. Follow the above tips for credit card users.