How to make the best use of a credit card?

1. How to make the best use of a credit card?

2. What is a credit card? income. A credit limit is sanctioned to the customer and he can utilize the same for purchase of goods and services. All you need to do at the time of purchase is to produce the card and sign a charged slip to pay for your purchases. A small plastic card which is issued by a bank to the eligible customers based on their

3. Convenience Today the world over, people prefer to make purchases using the credit card rather than by the traditional methods of paying by cash or by cheques. Having a credit card in your wallet means no more running to the bank or the ATM for cash, counting out the exact change, or hurriedly scribbling in a cheque book when you need to make a purchase. Secondly today with a large number of business /merchants accepting credit cards the convenience for shoppers only grows. Merchants too prefer credit cards, as compared to cash. Maintaining cash in the cash box has its own set of problems, it may be stolen, misappropriated, has to be deposited in the banks the next day etc. while cheques may bounce. So, while cash may always be king to some people, the use of credit cards is on

4. Maintain a good credit rating

5. Your credit cardscan help you budget expenses each month, provided you pay your bills in full every time. If you do, your bill then acts as a master receipt that displays an itemized listing of what you spent your hard-earned money on. Some credit cards even categorize your purchases and send quarterly or annual summaries of your spending that provide percentage breakdowns of how much you spent on retail, dining, entertainment, etc. Timely payment will improve your credit ratings. A good credit rating also helps the consumer to obtain loans with a lower rate of interest. Your credit card company might also approve a higher credit limit.

6. Borrowing interest free cash The issuers (Bank) offers to charge the credit card user at the end of a billing cycle that means you get a break from 15 to 50 days during which your lender will not charge interest on your purchases. That means the credit card holder has to pay only at the end of the cycle period and on the due date in order to avoid paying of interest. The money can be paid either by cheque, in cash, by e-banking or the amount can be debited to the credit card holder’s account. You can also enjoy numerous offers and discounts that the Bank offers periodically to the Credit Card Customers.

7. Thank You! http://www.facebook.com/idbibank https://plus.google.com/+IDBIBank https://in.linkedin.com/company/idbi-bank http://www.twitter.com/idbi_bank http://www.youtube.com/idbibank