Credit Card Tips: Never do this work with your credit card, otherwise you will be in trouble


Credit Card Tips: The use of credit cards is continuously increasing. People prefer to use credit cards especially for online bill payments and shopping. However, while using a credit card, it should be remembered that it is a type of debt that has to be repaid later. So you should be careful while using the credit card. Today we are telling you about some such things for which you should avoid using credit cards.

withdraw cash from atm
If you think that withdrawing cash from credit card through ATM is a great convenience then you should think once again. If you withdraw cash from ATM through credit card, then you do not get any time for its payment. Interest starts charging immediately after withdrawing the cash. The interest can be 2.5 to 3.5 percent per month. You will also have to pay flat transaction tax on this.

international transaction
If you use a credit card abroad, you have to pay foreign currency transaction fees. At the same time, fluctuations in the exchange rate also have an effect. If you do not want to use cash abroad, then use a prepaid card instead of a credit card.

credit limit
Always keep in mind the credit limit while using a credit card. If you spend more than your limit, then the company charges you. Using more than 30 percent of the credit limit has a bad effect on the CIBIL score.

Minimum Due Option
There are two types of amounts due in a credit card bill – Total Amount Due and Minimum Amount Due. Less money has to be paid in the minimum amount due. If you exercise this option, then keep in mind that you are charged huge interest. Interest is charged on the entire amount. Therefore, while making the payment, choose the option of Total Amount Due.

balance transfer
Use the option of balance transfer wisely. Balance transfer means that you can pay the bills of any other credit card from one of your credit cards. However, for this you also have to pay some interest. Never do balance transfer in such a way that you pay the bill of one card from another, then the third of the second and the third to the fourth. Doing this will spoil your CIBIL score.

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