In today’s era, most people prefer to pay in digital way. Credit card usage is becoming increasingly popular, especially during the Corona epidemic.
New Delhi: In the era of Corona epidemic, the trend of digital payment has increased significantly. Most of the people are preferring digital transactions instead of buying from cash.
The trend of credit cards is increasing rapidly in the country. Apart from urban areas, people are now preferring to take credit cards in rural areas. By the way, now it has become much easier to take credit card If you are also planning to get a credit card, then you must know some important things related to it.
What is a credit card?
A credit card is a payment card issued to users by financial institutions. You can also issue a credit card from the bank. It allows you to borrow money up to the pre-approved limit for making purchase payments. Apart from all banks, many financial institutions issue this card to you. Users can use this card for payment. You have to deposit the used money within the stipulated limit.
Keep these important things in mind
You can first get the complete information about the credit card issuing bank or institution. Apart from online medium, you can get information by going to the branch of that institution. Many companies and banks charge a fixed fee every year on credit cards, about which complete information should be taken. Apart from this, the maintenance fee of the credit card should be known.
Before taking a credit card, be sure to know about its limit. For this you can inquire with many banks or companies. Every bank or company issues credit cards to customers with different limits. Before applying for credit card, collect all the necessary documents, otherwise your process will stop later.
Use credit card only for shopping or other needs. Withdraw cash only in an emergency situation, because you do not get an interest free period when withdrawing cash. As a result, you will have to pay interest for that amount. Every bank or company sets different rates for this.
If you get a call and the caller asks for personal information to issue a credit card, never do so. You should do all the credit card formalities in the respective branch. If you share such information on the phone, then you can have cybercrime with you, for which you will be responsible. Banks or companies instruct all customers to beware of fake calls.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.