Here are some tips for using credit card smartly:
A credit card has become a necessity these days but you should not let this extra credit spoil you. The first and most important rule for safe use of credit card is to always pay your bills on time.
I have had one since my first job about a decade back and when one of my friends ended up raking a high interest, and I realized that no one actually tells us how to use our cards wisely. Here are a few other tips to use a credit card like a pro:
Set payment alerts
With a hectic and busy work schedule, we tend to forget few things to avoid any payments dues, set payment alerts on your smartphone. You can set a monthly reminder or an alarm. Secondly, if you don’t regularly check your credit card account then set up mobile alerts that will notify you about transactions in unusual or unfamiliar locations.
Budgeting tool
Use your card as a budgeting tool by making all of your purchases with your credit card instead of saving account. With this, you can see exactly how much you’ve spent at the end of the month. Of course, you should only do this if you know that you can pay off the balance each month.
Go for EMI
Now a days banks offer EMI option on credit card purchases so in case you made a big payment by your card,then contact the bank and get the amount converted to EMI. Inquire well as a few banks offer free EMI services without any added charges.
Earn rewards
There are many rewards which you can avail with the purchase of a credit card. Choose the great value deals before making payments with your cards and get as many reward points. You can even redeem your card points against a voucher and other things depending on the bank.
Alert
Avoid adding credit card details from a non-trusted system as it can lead to frauds, Use only trusted gadgets to make a payment.
Do small purchases
Instead of making big payments from the card, use it to do small purchases every month as this way you can repay your debt on time without interest.
Use the card for needs, not wants
Though you get a month’s time to pay your bill but still use your credit card carefully as frivolous purchases can lead to debt.
I hope these tips help, do you have any smart tips to avoid a huge debt in your credit card?
