What can you do to make the most of your credit card?

The use of credit cards has sky-rocketed in the present times. Apart from immediate credit, there is a range of advantages like reward points, discounts, cashbacks, etc. However, debt accumulation is an unfortunate reality that cardholders need to consider. Few pointers such as how to check credit card statements have to be kept in mind to avoid any inconvenience in that regard. 

One of the most important things to note is that the bill should be fully paid and within the due date. If not, a high rate of interest is charged not only on the outstanding due but also on subsequent expenditure.

Credit cards, such as Bajaj Finserv RBL Bank SuperCard, provide cash withdrawal from ATMs upto 50 days for 2.5% processing fee. However, one should avoid making cash withdrawals unless absolutely necessary as a substantially high rate of interest is charged after the 50-day interest-free term ends.

Be sure to check the credit card statement regularly and take note of any discrepancy which may be indicated. Mostly, it is to check whether there has been duplication of charges and unauthorised transactions, among others.

A little due diligence goes a long way to ensure that you are able to maximise your credit card usage.

About This Author

Aditi Ahuja Aditi Ahuja is a noted financial consultant and adviser. Joined: August 23rd, 2018