Nov 5, 2024
By: BI India Bureau
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Always try to repay the full balance on your credit card each month. This helps you avoid interest charges on any remaining balance. Additionally, it boosts your credit score and keeps debt manageable.
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Regularly monitor your transactions to prevent overspending and avoid surprises on your bill. This also helps you stay within your budget and identify any fraudulent charges.
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Select a card with rewards that fit your lifestyle, like cashback on groceries or travel points, to maximise benefits. Additionally, use your card for purchases you would make anyway to earn more points.
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Withdrawing cash using your credit card incurs high fees and interest. Only use this feature in emergencies to avoid accumulating costly debt.
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Before making a purchase with your credit card, ensure you have enough funds or a solid plan for how you will repay the amount.
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Set reminders to avoid missed payments, which can lead to late fees and negatively impact your credit score.
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Use only a small portion of your credit limit (under 30 percent) to improve your creditworthiness and maintain a good score.
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Regularly check statements for unauthorised charges or errors to promptly dispute them, safeguarding your finances and credit.
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