How to Maximise Benefits from Your Credit Card

Ashvin Sharma Credit Card Show

In the last few years, India has embraced plastic money and digital payments at quite a fast pace. Today, more people also have credit cards than earlier. However, people are still wary when it comes to using a credit card. This is mostly because people are unaware of the benefits you get by using a credit card.

Click on this link to know more benefits of credit cards: https://cardinsider.weebly.com/blog/tips-to-maximize-benefits-of-credit-cards

Choose the Right Card

Maximizing benefits all starts with using the right card. This doesn’t mean that a credit card issued by one bank is better than that issued by another. What it means is that the card you ultimately choose should complement your spending pattern. This is the best way to earn as many rewards points as possible or the highest cashback.

Use Your Card

It’s all well and good to own a credit card or two, but it is of no use if you decide to use them occasionally. To truly maximize the benefits of your credit card, you should use it often and preferably for all your spending.

Click here to know about the Maximize benefits of credit cards.

Make Use of the Interest-Free Period

All credit cards come with an interest-free period which can be anywhere from 20 to 55 days depending on the type of card you have. The longer the interest-free period, the easier it is for you to get enough money to pay the bill on the payment due date.

How does this work?

Well, let’s say that your credit card statement is generated on the 15th of each month and your payment due date is on the 10th of the following month. Let’s also say that you plan to make a big-ticket purchase. Now, if you make the purchase on the 17th of the current month, you will have 54 days to repay the amount (assuming the current month has 31 days and the following month has 30 days). If, however, you make this purchase one day before the date that your statement is generated (i.e., 14th), you have only 26 days to repay the amount.