You Have A Credit Card? 4 Tips for You! And Look Out For In Credit And Debit card Users…

Written by
  • Latheef R.
  • 8 months ago

The Most Important Things Credit Card Owner Should Know!

Many credit card owner will come to the conclusion that they no longer need a credit card. The reason is that if you do not handle it properly, you will have to pay higher fines and interest. It will trap you in a huge debt trap. If you do not use a credit card properly, it will become yours. Credit card holders must know these things.

1. Budget

Budget each month and use a credit card. Predict and plan ahead what credit card you will use. Then you can avoid unnecessary waste. You may not even get caught in the debt trap.

2. Special Offers

A lot of banks and online shopping companies are announcing various offers as the festive season has arrived. Find out what offers are available to buyers using credit cards during the festive season. You can buy goods by knowing the offer notifications coming from the bank where you have the account. This will give you extra reward points.

3. The Alternative

The interest paid on credit cards is higher than the interest we usually pay on other loans we buy at banks. If you do not pay your credit card balance properly each month, you will lose a large amount of money. So you can get a personal loan from a bank at a lower interest rate than you would pay a credit card balance at a higher interest rate. Even with high interest rates on personal loans, it can still be less than the credit card interest burden.

4. Minimum Fee

It’s okay to not pay the full balance for the credit card every month; The minimum amount due must be paid on time. Banks charge a higher fee for such non-payment. A fine is also imposed. The minimum due is calculated as 5 percent of your total balance. But, you will probably be fined even more if you buy something at EMI with a credit card or spend more than the credit limit.

Things To Look Out For In Credit And Debit card Users…

1. Do not allow credit or debit cards to be used by anyone for any reason. Go directly to yourself and use credit and debit cards.

2. Do not share OTP, CVV, PIN, UPI MPIN with anyone for any reason!

3. It is best to keep your view when using credit and debit cards in stores.

4. When buying goods online, make sure that it is a safe website. Check if the shopping website address is https: // and place an order. Avoid storing your credit card details on any secure website.

5. Do not click on suspicious website address links in mail or WhatsApp. Do not open suspicious links in the mail or on WhatsApp.

6. When using credit and debit cards for transactions, the details should be recorded in their bank account with the facility of texting to the mobile number and the facility of receiving information to your mail. Only then will any transaction take place without their permission, and it will be texted to them. Keep it up and take immediate action.

7. Do not write credit and debit card details anywhere for others to see. It is a good idea to change the ‘PIN’ number of credit and debit cards once a month. Do not write the ‘pin’ number on the card. Some processors are designed to memorize passwords and PINs like these. You can use it to secure the password and the ‘PIN’ number. But it is also important to look out for the possibility of information being stolen by these processors.

8. Please do not hesitate to contact your friends, relatives or bank for details on credit and debit cards. They will maneuver to contact the bank and buy the details of their credit and debit cards and commit fraud.

9. No matter what processor you download and use from the Internet, it is a good idea to make sure it is a secure processor. If someone sends you a link on the WhatsApp or SMS and tells you to download this processor, please do not do it. Fraudsters will show their hand by getting their credit and debit card details through that processor.

10. Take out a credit card only if you need to use it. Otherwise, it is better to leave it at home.

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CREDIT CARDS · PERSONAL GROWTH

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