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Business News/ Brand Post / Card Insider Spreads Awareness To Use Credit Cards Wisely!

Card Insider Spreads Awareness To Use Credit Cards Wisely!

Card Insider emphasizes 7 key tips that you must keep in mind after applying for a credit card.

7 key tips from Card Insider for the users applying for Credit CardPremium
7 key tips from Card Insider for the users applying for Credit Card

October 20’2021: At, one can compare credit cards and choose the best suitable card as per their financial needs.

On the growing demand of plastic money, Ankur Mittal, Founder, said, “Credit cards are one of the most useful financial tools that one uses in their day-to-day life to manage personal finances. While credit cards can be really beneficial if used wisely as you not only get an interest free short span loan for your daily expenses but also get rewarded with reward points or cashback, there is also a risk of ending up in a debt trap if you are not good at managing finances and have a bad spending habit." Card Insider emphasizes on 7 key tips that you must keep in mind after applying for a credit card.

1.) Keep Credit Utilization Low: Credit cards always come with a credit limit- the maximum amount that you can spend with the card in a given payment cycle. Banks decide your credit limit based on your income and credit score. Although banks usually give you quite a high credit limit (around 3 to 4 times your monthly income), it is advisable to keep your monthly spends under 30% of your credit limit. This indicates a good financial habit and helps in building a strong credit profile.

2.) Track Your Card Statement: It is advisable to closely track your monthly credit card statements so that you can monitor your spending behavior and know which category of spends accounts for the largest portion of your card’s statement balance. This will help you choose the best credit card based on your needs.

3.) Time Your Purchases: It is more beneficial to make big purchases in the initial few days of the credit card’s payment cycle so that you get an interest-free loan for a longer time duration.

4.) Automate Payments: Almost all banks allow you to automate your credit card bill payments so that your credit card bills are automatically paid from your savings account. This feature is really helpful if you are someone who tends to forget to pay the bills on time.

5.) Pay Your Bills in Full: Most credit card issuers allow you to pay a certain minimum amount (usually 5% of the total billed amount) till the payment due date to avoid the late fee. However, as a good financial practice, it is advisable to always pay your bills in full instead of just the minimum amount due.

6.) Achieve the Spend Milestones: Many credit cards offer you milestone benefits, i.e. you get rewarded on spending a certain minimum amount with your credit card. These benefits can be either in form of bonus reward points or cashback or as a membership fee waiver (annual fee of the card is waived off on spending a certain minimum amount in the preceding year). To make sure that you achieve these milestones and avail the benefits, it is sometimes a good idea to transfer big-ticket expenses on your credit card. One good example can be making house rent payments via credit card.

7.) Track Your Rewards: Apart from the card’s statement, another aspect of your credit card that you must keep a track of, is the reward points/cashback that you earned on the card. There is usually a max capping on the reward points or cashback that you can earn on your credit card in a given payment cycle. Now if you have more than one credit card and have already reached the maximum reward points/cashback limit, it might be a good idea to now use another one of your credit cards for making future purchases.

If you thoroughly follow the aforementioned tips, rest assured, credit cards will only benefit you, not just by earning you rewards but also by helping you build a strong credit profile which will certainly help you in the long run.

For more details visit-


Disclaimer: This content is distributed by SRV Media. No HT journalist is involved in the creation of this content.

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Published: 20 Oct 2021, 06:58 PM IST
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