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Tips to Manage Credit Card Wisely - Learn Money in Hindi | EP 09

Check credit limit: Apply for a high credit limit. Take the highest credit limit available.   If you spend less using a 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 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. Credit card interest rates: Credit card charges interest of 12-24% a year.  

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