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What is the Best way to use Credit Cards?

What is the Best way to use Credit Cards?

BY Little Grapes 5 Dec,2022


I. Do not overdraw cash

Many friends do not have enough money on them, they like to use their credit cards to withdraw money from ATMs, unaware that overdraft cash withdrawals are expensive. Because the credit card overdraft cash can not enjoy the interest-free period, cash withdrawals in accordance with the daily interest rate of five ten thousandths of a percent, and also to deduct a cash withdrawal fees, tens to hundreds. So, don't overdraw cash unless you have to.

II. Grasp the best time to swipe the card

We all know that credit cards can enjoy 25-56 days interest-free, the longest and shortest difference between a month, what is going on? The key point here is the time to swipe the card. Credit cards have a billing date, the first day after the billing day, you can enjoy at least 50 days interest-free period, while the day of the bill card in, you can only enjoy 25 days interest-free period, so grasp the best time to swipe the card, we can win a longer interest-free period!


III. Timely repayment

The credit card bill comes out with a final payment date, so make sure you make your payment before the final payment date. If you don't repay your credit card by the last payment date, the bank will not only charge you interest on your overdraft, but also late payment fees, which will cause bad credit and inconvenience for you to apply for a loan in the future.

IV. Do not use the minimum repayment amount to repay the loan

Although the bank allows the least amount of repayment will not cause bad credit record, but we do not pay the outstanding part, or will incur additional interest.

V. Don't overpay your credit card

The credit card overflow deposit is the extra portion of the deposit after the customer has paid off the outstanding amount. For the credit card overflow deposit withdrawal, many banks will charge an additional fee, their own extra money to take out the fee, which is too unreasonable, right!


VI. Annual fee waiver trick

Now many banks have a full number of annual card swipe the provisions of the next year's annual fee waiver. Therefore, the usual shopping may wish to brush a few more bank cards, after the full number of times, the annual fee is waived, so there is a lot of money saved.

VII. Rational installment payment

Many banks provide installment services for customers, but be sure to understand that installment payments will incur additional costs, if you must installment, first understand the cost, because the bank for different periods, the fees charged are different, often the longer the period, the higher the cost!