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Trisha Rao

Trisha Rao

Asked on 6 June, 2019

What are some credit card mistakes to avoid?

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NewsBytes

If not used wisely, credit cards can be a huge burden. Here are some mistakes to avoid: Having too many credit cards; they increase expenditure. Paying only minimum due amount instead of focusing on clearing the outstanding balance. Defaulting on bill payment and high credit utilization. Withdrawing cash using credit card; it attracts very high interest. Ignoring monthly statement and blindly pay the bill.

Devansh Kapoor

Devansh Kapoor

Asked on 6 June, 2019

How can I save money using credit card?

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Credit cards can help you save money and earn rewards. Here's how: Avail discounts, deals, and cashback offers to save money using credit cards. Save on fuel purchases through fuel surcharge waivers or reward points. Avail travel offers, restaurant deals, and free movie tickets. Earn reward points for transactions and redeem them. Avail No-cost EMI and flexible EMI offers.

Shreya Das

Shreya Das

Asked on 6 June, 2019

What is high credit utilization ratio? Why is it bad?

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NewsBytes

High usage of credit card limit results in high credit utilization ratio, which is bad for the cardholder's credit score. Credit utilization ratio is the percentage of the total available credit currently being used. Credit reporting agencies use this ratio while calculating an individual's credit score. Higher credit utilization ratio indicates the borrower's credit hungry behavior, which impacts the credit score.

Arjun Kapoor

Arjun Kapoor

Asked on 6 June, 2019

What points should I consider before taking credit card?

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NewsBytes

Here are some factors to consider or things to analyze before taking credit cards: Analyze your shopping habits to find a suitable credit card. Know about the interest rate charged on the credit card. Which type of credit card is better for your - secured or unsecured. Credit limit offered to you by the bank. Calculation method for minimum amount for credit card transactions.

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