Remember These Things Before You Opt For Credit Cards!

8. Pay dues on time: This is something very useful to remember! Even before think of buying a card. If you fail to pay your dues on time then it will hurt your credit score badly at Credit Information Bureau India Limited. This will in turn affect your chances of getting a loan in the future like home loans and auto loans and that can mean a higher interest rate or lower loan amount.

Remember, credit card is a facility that the banks provide you to be able to pay when you do not have the cash. But this tool can easily become a bank’s biggest earning factor from you if are ignorant about the above mentioned things to consider while getting credit cards. So be aware and careful when dealing with the matters of money, especially the credit card.

9. Read the fine print: Last but not the least, read the disclosures about the terms of a credit card offer, usually in small print on the reverse or at the bottom of the offer. Read these terms carefully. However, it is not necessary that all relevant information will be disclosed. Thus, you must also read your credit contract, which comes along with the card. This might also include terms such as late payment fees, default rates of interest, and a description of the billing method. Since these terms are not easy to understand, you should call the lender for an explanation.

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