Credit Card Tips: Do not do these things even by mistake regarding credit card..

There can be many reasons for using a credit card. This is also something like this, there are many benefits of using a credit card.

Not only getting extra time for payment, you can also earn money through rewards points and take advantage of deals available on e-commerce websites.

However, some attractive features of credit cards can trap you in the debt trap.

Do not use a credit card like this
Withdraw money from an atm
Credit cards are also used to withdraw money from ATMs.

However, it is with this very information that unknowing users end up making a big mess.

If you are using a credit card, do not withdraw money from the ATM even by mistake.

The biggest inconvenience associated with this facility is that a huge amount of interest has to be paid on the amount withdrawn.

You get one month to pay shopping bills using credit cards, but this is not the case for withdrawing money from ATMs.

There is no time of any kind to repay the money withdrawn from the ATM. That is, interest starts accruing from the day of withdrawal.

Balance transfer
If you are using two credit cards simultaneously, then there will also be information about the balance transfer feature. Balance transfer means that you are using one credit card to pay the bill on another.

However, you need to understand that there are charges to be paid for the balance transfer. Using one card to pay another's bill can spoil your CIBIL score.

Using the balance transfer feature can be useful in times of major financial need. However, doing this repeatedly can cause a big loss.

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