There are many advantages to having a credit card, so there are many disadvantages. You should have complete knowledge about it before using the cat card. If you do not have full knowledge then you can face a lot of losses. The bank gives you a credit card keeping in mind your credit score
Those who do not know about the credit score may be wondering what it is. Let me tell you in a nutshell that the credit score is according to your valuation, such as if you do a job or do business and your transaction with the bank. If your credit score is going well then your credit score will be good if you have taken a loan from the bank and you are not able to repay that loan at the right time. Down would be gone then you have no one tried to banks will not loan or credit card that relations to cool with the bank
Now let’s talk about how to get a credit card, for that you have to apply to any bank’s site online or through an agent, you can apply for a credit card. Most banks have made their agents through them. You can also apply CAT card, or you can go to any branch and go to the bank of which you want to be arrested and you can also submit offline form by going to that bank. Can take credit cards Cat card you receive based on your income, your monthly income that you should be above 15,000 if jobs
Now let’s talk about the benefits of credit cards
1) With a credit card, you can do shopping etc. even if there is no money in the bank account, this is a kind of loan in advance, a certain amount is given by that card, you can use that amount only. .
2) After you make a purchase with a credit card, you are given 50 days to pay the payment within 50 days, you have to pay it within 50 days. With the CAT card you get a lot of time to hide the payment.
3) You can also withdraw cash from ATMs with credit card, but keep in mind that cash can be withdrawn from the ATM in an emergency only because there is a very good interest and penalty here. There is no need to ask for money and you can do your work easily, this is a very good benefit of credit card.
4) Credit card helps a lot in building your credit score because it leads to a lot of transactions in a month and if you pay it on time, then the cats are very good.
5) If you shop with credit card then you get some rewards points here and you can also redeem these revolted points.
6) If you shop with a credit card, then you can convert your shopping to EMI, like if you have done 10000 shopping then you do not have ₹ 10000 to deposit together, then you can buy 3 : 00 or 6:30 or 12:00, you can also make the installment, so it makes your money burst by taking very little interest, this is also a very good benefit.
7) When shopping with a credit card, a statement is made by the bank in the last month of the month and all your purchases are detailed in that, depending on the detail, you can reduce your budget more.
Now let’s talk about the loss of credit card
1) When you shop with a credit card, you get 50 days time. When you take a captive card, then it is spoken by the bank, because the information is not complete, the user does more shopping and then he Understands that the bill is to be paid only after 50 days and due to lack of information, the bill is generated and if it is required to pay within 2 or 4 days, then in that condition, if the bank is unable to make the payment then the bank flows It also charges more penalty and interest, which is a huge loss. 50 days after your statement is generated, you get 50 days, then you remember that when your statement is due to be generated, the next day if you shop If you do, then you will get full 50 days, if all the days that pass after that, your days will continue to be less than 50 days.
2) If you withdraw cash from your credit card from the ATM, then you start getting interest and penalty from the same time but there is not so much that you do not withdraw money in an emergency due to fear of it, but try that too much emergency If you are, then how do you withdraw from the ATM.
3) If you shop with credit card more than the limit, then you have to pay a lot of penalty, more than the limit means that if your limit is ₹ 50000 and if you are shopping for ₹ 52000, you will get more from the bank You have to pay a penalty for shopping. The bank understands that the user may need it and he has spent ₹ 52000, then he will allow it and add the penalty to your heart. So then do not much shopping to limit the note as you can as soon as you shopping limit of your card.
4) If you make payment in the international website with a credit card, then the bank does not keep any details of the international website, it only monitors the payment of your country, then there is a risk of fraud from international websites.
There is also a lot of hidden charge in the credit card, so once you receive the credit card, its terms and conditions are written in the paper with the same card, then you should take the information once.
Friends, you must have liked the information about the credit card. If you carefully use the smart card carefully, then the credit card is very beneficial for you. If you are negligent at all, then the bank will pay the penalty for that negligence penalty. And levies interest which is too much for any common person.