Cards are popularly known as plastic money and used paying for the transactions. The ‘buy now pay later’ concept make it very popular. You can get an ICICI credit card by simply applying for a card in the banks or NBFCs.
Though you can get credit card easily, you should avoid certain expenses on the credit cards because putting certain items on your card leads to huge fees and higher interest rates. You should never revolve your credit card unless it is absolutely necessary because availing that option would incur charges.
The charges are 3% to 4% of the outstanding balance per month and it multiplies to up to 50% in a year.
You should always try to avoid cash withdrawal by using a credit card because bank charges a higher rate of interest on the cash withdrawal amount.
Never pay medical bills or college tuition fees by using credit cards because they run in lakhs and thousands. Financial institutions charge a higher rate of interest on that.
You can go for another option like ask school or college authority for low-interest students loan, grants, scholarships or work-study programs that might be available to help pay your education costs.
So, these are the things should never do with your credit card. Always use your credit card wisely and try to maintain a good credit history.
The charges are 3% to 4% of the outstanding balance per month and it multiplies to up to 50% in a year.
You should always try to avoid cash withdrawal by using a credit card because bank charges a higher rate of interest on the cash withdrawal amount.
Never pay medical bills or college tuition fees by using credit cards because they run in lakhs and thousands. Financial institutions charge a higher rate of interest on that.
You can go for another option like ask school or college authority for low-interest students loan, grants, scholarships or work-study programs that might be available to help pay your education costs.
So, these are the things should never do with your credit card. Always use your credit card wisely and try to maintain a good credit history.
Additional Reading:- 6 Things You Should Never Put on a Credit Card
