When taking a credit card, always take a low limit card in the initial stage. This will not put additional burden on you. Also, while taking a credit card, make a good information about the charges, etc. on it.
Most of the people have become dependent on credit cards due to increasing needs of the people and not getting salary on time. This does not put a cumulative burden of expenses on them at the present time, because you can pay it in EMAI i.e. installments. But credit cards also have many disadvantages. If the installment is not repaid on time, then additional interest may have to be paid on it.
In such a situation, if you are taking a credit card for the first time, then it is very important for you to know some things, otherwise your monthly budget may go awry. Also, you may have to face other problems in the future as well. So, let us know which are those things.
Get information about charges
Many types of offers are offered from different banks regarding the credit card. In this, even the matter of zero charges is said. But sometimes they include hidden charges. Like fees or salons maintenance etc. on every transaction. So while taking a credit card, be aware of these things. Try to get a credit card with a minimum fee in which you do not have to pay extra money.
Apply in your own bank
If you are thinking of taking a credit card, then instead of other banks, apply in a bank where your account is already open or you have a fixed deposit there. With this, you will get a credit card easily and do not have to do much paperwork because you will be a regular customer there.
Do not spend more than the limit
Always take a credit card with a lower limit in the initial stages. So that you do not have difficulty in paying EMI. Also, fill the installment on time. Failure to do so may damage your credit score. Due to this, you may have difficulty in taking a loan in the future. Apart from this, do not spend more than the limit fixed by credit card, because even overcharged, the credit score can deteriorate.
Start with a no-frills card
If you are taking a credit card to meet your daily needs, then initially take a card with a low spending limit. No-frills cards are better for this. This is such a credit card in which there is no hassle of paying any kind of annual fees.
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