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How to Use Credit Card - Money Doctor Show Kannada | EP 185

How to use credit cards?


  • Check credit limit: Apply for a high credit limit. Take the highest credit limit available.   If you spend less using credit card but enjoy high credit limit, your credit score goes up.


  • Understand rewards on credit cards: Credit cards offer gift vouchers and benefits. Understand rewards and benefits you are eligible for.


  • Pay credit card bills on time: Make sure you pay credit card bills on time to enjoy interest-free benefits.


  • Don’t opt for minimum payment: Don’t go for minimum payments to avoid penalties. Clear the full balance each month to avoid high-interest rates.


  • Don’t draw cash with a credit card: Don’t use credit cards to make withdrawals at ATMs. These entail heavy charges.


  • Avoid co-branded cards unless necessary: Avail co-branded credit cards only if consumption of that particular brand is high.

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