One of the most essential tools in our financial lives and management is a credit card. Can you really imagine your life without one? The kind of convenience and ease it offers, only if managed properly, is unmatched among all types of finance tools. Moreover, a single credit card app on your smartphone can almost initiate any kind of financial task without any hassle these days.
However, it is pertinent to mention here that improper use of such tools can lead to financial difficulties and stress. In order to make the most of such cards, today, in this article, we’ll discuss some common mistakes to avoid.
- Not paying the full balance every month
One of the most common mistakes users tend to make is not paying off the full balance every month. Remember that taking the easy route and paying only the minimum amount due can definitely lead to significant interest charges on the remaining balance.
- Missing due dates
Missing the due date can lead to late fees and a very negative impact for your credit score. In our country, overdue expenses generally tend to vary from lender to lender and rely on the exceptional amount in addition to the price due date.
- Avoiding rewards/perks
Credit cards often offer a lot of reward programs as well as perks. These might include travel insurance and lucrative cashback offers. Not taking advantage of these can mean missing out on potential savings. So, what are you waiting for? Apply for credit card now!
- Maxing out limit
Using your card to its maximum limit can hurt your score and make it quite difficult to manage your finances. For those who are unaware, high credit utilization, which is basically the ratio of your card balance to your limit, can impact your score negatively.
- Avoiding monthly statements
Many people ignore their credit card statements, assuming everything is in order. However, it is crucial to review your statements regularly to check for errors and unauthorized transactions and to understand your spending habits.
Which is the best platform to apply for credit card?
Bajaj Finserv! If you plan to start your credit journey, believe me, this is one of the best platforms. You can easily visit their website or download their application on your smartphone. Once you get the credit card via this platform, you’ll also earn 20,000 reward points in the beginning.
Here is a step-by-step guide on how to avail this facility from Bajaj Finserv:
- Download the app on your smartphone
- Sign up
- Go to the cards section
- Choose the one you want and apply for it
- You are good to go
With just five easy steps, you can easily ensure that you can avail of this facility without even going anywhere via this credit card app. Moreover, their application is super user-friendly and easy to use. Digital mediums have undoubtedly helped humans save a lot of time, money, and energy.
Final thoughts
Using this type of financial instrument in a wise manner is very important. It involves more than just making purchases and paying bills. Therefore, try to avoid the above-mentioned mistakes, maintain a healthy credit score and enjoy all the perks you get from such cards!
Lastly, remember that responsible credit card usage is the key to maintaining financial stability at all times and achieving your financial goals. Download the best credit card app now!