Sunday, June 6, 2021

5 things I learnt from using credit cards for the last 13 years

Believe it or not, I got a credit card at the age of 19. I had my own customized gifting business, and my bank with whom I already had a savings account gave me a credit card just on the basis of my business card, that is all! I sometimes wish it wasn't so easy, and I wasn't so careless. But I wanted to share what I have learned, so that it may benefit any other millennial who is considering getting one or has just received one.

1. Annual Charges

via GIPHY

Most credit card companies will lure you into getting one with offers like a free shopping voucher or no charges for the first year and so on. Make sure you know what the charges are from the second year onwards, as it could be something like 1-2K per year too! I had a credit card that I was not even using and it was frustrating to pay Rs.700 just for nothing, even the bank doesn't give as much interest tbh.


2. Jitni chadar ho utna hi pair failao

via GIPHY

Quoting a popular Hindi muhavra, what I mean to say is don't use your credit card over your income or ability to pay back. The lucrative credit limits may make you feel like God, but remember, if you're not paying it all back in one go, you're paying the bank hefty interest charges, and when I say hefty, I am not even kidding. In fact, even when setting a credit limit, I would recommend keeping it lower, when the bank offers to increase it, politely refuse.


3. EMI's - the good, the bad, and the ugly

via GIPHY

Most of us get a credit card because we want to be able to buy expensive gadgets and other commodities on EMI. While no-cost EMI certainly are wonderful, I advise you to opt for the shortest duration possible for you. Always go for 3-6 month EMI's instead of 12-24, for multiple reasons. The first being that obviously you will have to pay more interest to the bank, and honestly even if the amount is small over time it starts feeling like a burden. Imagine using your new phone for months, or going for that international holiday for a week and the next year you're still paying for it - that doesn't feel very nice. Been there, done that. And you may also fall into a habit and before you know, every month your statement comes to big figures and you're paying for EMI's which you did not even remember in the first place, that may put you off your money management for that month.


4. Consider credit card as an emergency fund

via GIPHY

We all see hard times, you never know when an emergency may come up - like hospitalization due to an accident or sudden health issue. Having a credit card can make you feel at peace for when such a day arrives so that you get instant funds and then have a month or so to figure how to pay it back. Whenever making transactions using your credit card otherwise, ask yourself if you could pay for it via debit, ask yourself if you can push this expense to the next credit cycle. In fact, so many times if I want to buy something and my credit cycle is about to renew, I wait till that happens so that I get more time to pay it back.


5. Utilise those points

via GIPHY

Many of us, especially I have noticed one generation above, totally forget that their card collects points for using it - which you can redeem for gift vouchers, products, or even cash back! Don't forget to redeem  - the joy of free vouchers is amazing. Also, don't fall for fraudulent messages that say your points are about to expire and lure you into sharing your card details and OTP, before you know it, your money will be gone.

Hope my experience helps you! If you're a fellow CC user who has some more tips to add, please add in comments!

43 comments:

  1. The worst part of it was that the software only worked intermittently and the data was not accurate. You obviously canot confront anyone about what you have discovered if the information is not right. venta dolares tarjeta de credito

    ReplyDelete
  2. The rest of the thirty to thirty % of one's money needs may come from private investors or opportunity capital. Recall, sweat equity is estimated, but it's not a replacement cash. https://www.accreditloan.com/

    ReplyDelete
  3. To many people, every deck of cards is the same. Learn the differences between major types of playing cards and choose the deck that works best for your game. lanyard printing

    ReplyDelete
  4. I am very much pleased with the contents you have mentioned. I wanted to thank you for this great article. 상품권 현금화

    ReplyDelete
  5. Credit repair In case you are contemplating recruiting a credit fix administration to tidy up your awful credit report, you better take notes on the accompanying unique report:Strongcreditrepair

    ReplyDelete
  6. I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post. ufabet เว็บตรง

    ReplyDelete
  7. I really thank you for the valuable info on this great subject and look forward to more great posts Slice invite code

    ReplyDelete
  8. Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. slice invitation code

    ReplyDelete
  9. Good Quality Article, Adrians Metal Recyclers makes it easy for you to cash in on your old junker! We pay cash for cars Gold Coast and can come to wherever you are. For a free online quote, please fill out the online Free Form or give us a call.

    ReplyDelete
  10. Awesome article! I want people to know just how good this information is in your article. APlus Car Removal welcomes anyone with any make, model, or condition of the car. Our professional team comes to your given location and quickly removes the car for free and offers the highest cash amount up to $11,000. Get an amazing Cash for Cars Brisbane offer with guaranteed satisfaction.

    ReplyDelete
  11. I haven’t any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us. Official MyCCPay site

    ReplyDelete
  12. Major Thanks for the blog article. Thanks Again. Keep writing.
    check more info about access card system

    ReplyDelete
  13. Appreciating the time and effort you put into your website. Searching to remove your Car for Cash? Metal Biz Recyclers warm-heartedly greets every customer with any car they have. With our 100% customer satisfaction, you can easily get Cash for cars Brisbane up to $9,999. Our skilled team will be at your doorstep to remove your unwanted car the same day you get a free quote from us. It’s a good day to avail of our offer.

    ReplyDelete
  14. The top-spec Isuzu D-Max 2023 has received some cosmetic tweaks, including a more colourful cabin. An Australian launch has yet to be confirmed.

    ReplyDelete
  15. So this was all regarding the working of the merchant referral programs. Merchant Referral Program

    ReplyDelete
  16. Excellent post. I really enjoy reading and also appreciate your work. This concept is a good way to enhance knowledge. Keep sharing this kind of articles, Thank you.Credit Card Processing

    ReplyDelete
  17. I always ask my accountant on issues like this, they are called MPG CPA.

    ReplyDelete
  18. Hey friend, it is very well written article, thank you for the valuable and useful information you provide in this post. Keep up the good work! FYI, Pet Care adda
    how to activate flipkart axis bank credit card, the millionaire next door
    ,The Price Of Flowers Summary

    ReplyDelete
  19. Hey friend, it is very well written article, thank you for the valuable and useful information you provide in this post. Keep up the good work! FYI, Pet Care adda
    Credit card processing, Klara and the Sun PDF Download ,My Favorite Movie Essay Harry Potter

    ReplyDelete
  20. Great Information sharing .. I am very happy to read this article .. thanks for giving us go through info.Fantastic nice. I appreciate this post. 신용카드 현금화

    ReplyDelete
  21. I learn some new stuff from it too, thanks for sharing your information. 정보이용료 현금화

    ReplyDelete
  22. Admiring the time and effort you put into your blog and detailed information you offer!.. 정보이용료 현금회 수수료

    ReplyDelete
  23. This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... 신용카드 결제 현금화

    ReplyDelete
  24. you will need support or suggestions, write me privately.
    I interested in your implementation/use case.
    the best situs slot terbaik
    Togel2win
    daftar bo bonanza
    Slot gampang menang

    ReplyDelete
  25. Barely any models are Airline credit card, Balance move credit card, cash discount credit cards and so on.slice invite code

    ReplyDelete
  26. volveris is a blog aggregator for Spanish-speaking audiences.

    ReplyDelete
  27. i never know the use of adobe shadow until i saw this post. thank you for this! this is very helpful. 소액결제 현금화 방법

    ReplyDelete
  28. rustte is a general site. It serves as a compilation of commands, scripts, and examples that I've used in the past as well as what I'm currently using/investigating.

    ReplyDelete
  29. muntto is a general site for bloging, mainly focused on sharing stories.

    ReplyDelete
  30. I couldn't discover any learning on this issue earlier to.Also work a site and on the off chance that you are ever keen on doing a few. Merchant Services ISO Agent Program

    ReplyDelete
  31. Really a great addition. I have read this marvelous post. Thanks for sharing information about it. I really like that. Thanks so lot for your convene. 소액결제 현금화 방법

    ReplyDelete
  32. I can set up my new idea from this post. It gives in depth information. Thanks for this valuable information for all,.. 소액결제 현금화 방법

    ReplyDelete
  33. Hey friend, it is very well written article, thank you for the valuable and useful information you provide in this post. Keep up the good work! FYI, Credit card Sbi pulse credit card review, It happened one summer pdf download, my self in english 20 lines

    ReplyDelete
  34. Get your dream custom packaging, and custom printed boxes with the help of our dedicated packaging experts custom boxes

    ReplyDelete
  35. You have worked superbly. I will burrow it and by and by prescribe to my companions. I am certain they will be profited by this site. How to Sell Merchant Precessing

    ReplyDelete
  36. You could have terrible credit for some reasons. You could have doctor's visit expenses, credit card bills, and a lot more bills that are predominantly high.is credit repair legit

    ReplyDelete
  37. GKW Retail is an Indian Online Furniture shop that sells its own products. Luxury Sofa Sets are a lovely type of sofa that will look great in your home and add a touch of luxury to your living room. It is more than just another piece of furniture; it is the most important feature of our home. It's vital to proceed with caution. If you're looking for a sofa set or any other piece of home furniture, you've come to the right place. After a long day at work, who doesn't appreciate unwinding by resting on a luxurious sofa while watching TV or listening to music while sipping a cup of coffee in one hand.Customers frequently learn after acquiring a couch set that it does not fulfil their comfort or quality expectations. If you buy from us, you won't have to worry about any of these problems.

    ReplyDelete
  38. A source for example, a commercial bank can provide both a short term or a long term loan according to the needs of client.md credit repair

    ReplyDelete
  39. Very nice article, I enjoyed reading your post, very nice share, I want to twit this to my followers. Thanks!. 소액결제 현금화

    ReplyDelete
  40. Great job for publishing such a nice article. Your article isn’t only useful but it is additionally really informative. Thank you because you have been willing to share information with us. Read more info about vclubshop

    ReplyDelete
  41. This is important, though it's necessary to help you head over to it weblink: certificazione

    ReplyDelete
  42. Thanks for sharing this information. I really like your blog post very much. You have really shared a informative and interesting blog post with people. MyCCPay official website

    ReplyDelete
  43. Hey friend, it is very well written article, thank you for the valuable and useful information you provide in this post. Keep up the good work! FYI, Chase Sapphire Reserve credit card review, physics wallah neet modules pdf free download,10 Lines on Rose in English, Ghost stories from the Indian Hills by Ruskin Bond Book Review

    ReplyDelete