Credit Card Management

By BankBazaar | November 9, 2015

Credit Card Management

Credit Cards are a great safety net when you’re hard-pressed on your finances. A Credit Card is also a great way to shop, especially if you’re not prepared with cash up-front. Plus, you get great discounts and deals depending on the type of Credit Card you’ve opted for. What’s not to like, right? Here’s how you can maintain your peace of mind in six simple ways:

Deciding on a new card? Count to ten.

There are pretty good chances you have an influx of great Credit Card offers given your solid Credit score – you are after all a responsible user and deserve much more. However, take a second to gauge the need for a new card and make sure it offers you new features you don’t already have on your existing one.

Want to build trust? Standout always.

And by standing out we mean making sure you ensure zero outstanding balance. This way you build trust with your lender. Maximise your few days of interest-free grace period when you’re allowed a few extra days to get organised with your monthly repayment. Avoiding spilling over allows you maximum breathing space.

Love the sunrise every day? Stay punctual.

Just like we all take somethings for granted, your unflinching regularity can build a strong foundation with your Credit Card company for any future financial plans you may have. Keep an eye on the calendar and make sure you set reminders to keep you alert on the Credit Card deadlines just in case you may need one.

Like stating the obvious? Double check. 

Keeping a close track of your Credit Card statements is always a good practice. This way you can instantly spot discrepancies, like being billed twice for the same purchase. Being particular about little details can save you a lot of unnecessary hassle in the long run, if ever there is a blooper in your Credit Card statement.

Hungry for that extra brownie point? Wait up!

It would be unfair not to want the amazing incentives your Credit Card offers like free air miles or redeemable points at stores, right? While you should make the most of the advantages your Credit Card has to offer, maintaining a zero outstanding balance can be a challenge. So when you’re swiping your plastic, make a quick note-to-self reminder of the expenditure so it doesn’t slip your mind.

What about my Credit Score? Pay attention.

It is crucial you maintain a good credit score for banks to consider your loan applications in the long run. A good credit score also allows you to enjoy favourable interest rates, owing to timely payments. EMIs should be given a serious thought because they will affect your credit card score if you fail to pay your EMIs on time.

With a little management and planning, a Credit Card can be your best friend in times when you need it the most. Make sure you have one when the unexpected strikes. And if you’re up for some great deals today, we’ve got just the Card for you…

 

 

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