Common Credit Card Mistakes (Part-4) || How Credit Card Billing Cycle Works

Common Credit Card Mistakes (Part-4) || How Credit Card Billing Cycle Works
#creditcard #credit #creditscore #credits #creditshield #mtb #mtblife #ebl #amexplatinum #amex
#creditcard_mistakes
⛱️ Mistake#1: To withdraw cash by credit card. Because daily interest will be counted from the time of withdrawal till card outstanding became zero.
Solution: Use Add money to MFS (bKash, Nagad, Rocket etc.) by credit card. Many credit cards impose no extra charge for Add Money.
⛱️ Mistake#2: To keep insurance or credit shield on.
Solution: Turn off insurance feature by calling the customer care unless you really need it.
⛱️ Mistake#3: Continue to pay minimum due.
Solution: Minimum due will only save you from late payment penalty but can't stop accrued interest. So, never fall for only paying minimum due. Pay the full outstanding within the billing cycle.
⛱️ Mistake#4: Withdrawing money from credit card and purchase by cash.
Solution: Try to pay using the POS machine inside the shop. Then it will be considered as purchase, No extra charge will be imposed rather you will get reward point for the purchase.
⛱️ Mistake#5: Not checking if the shop has 0% EMI coverage for your credit card.
Solution: If the shop provides 0% EMI coverage for your card then grab the opportunity at once.
⛱️ Mistake#6: Not checking the bill statement carefully.
Solution: Check the statement carefully and if you see you discrepancy call to customer care for clarification.
⛱️ Mistake#7: I have fulfilled the conditions , so yearly charge will be waived automatically.
Solution: In most of the banks, yearly charge requires to get waived manually by calling the customer care even though you fulfill all terms and conditions.
⛱️ Mistake#8: Take and use a card without clearly knowing the schedule of charges.
Solution: Never believe what is said by the sales agent or branch officers; Clearly study the schedule of charge; if you have any confusion then contact the customer care of the respective bank.