Getting a credit card is very easy these days. If you have a salary account, banks easily give you credit cards. But first-time credit card users often unknowingly make such mistakes, due to which they may have to suffer huge losses or get trapped in a debt trap.
This article will tell about the mistakes that credit card users should never commit.
Minimum Payment
Two payment options are given to the user whenever the credit card bill is generated. The first option is full payment, while the second is minimum payment. Many times it is seen that the user chooses the option of the minimum payment, and heavy interest starts being charged on his bill, and he gets trapped in the debt trap. Due to this, the credit card user must always pay the bill in full.
Don’t Use Up Your Credit Card Limit
Often first-time credit card users tend to use up their credit limit. For this reason, their credit score also falls. Always use only 30 to 40 per cent of the credit card limit, keeping your credit score good.
Do Not Do International Transactions
Credit card users get lured by offers and do foreign transactions many times. In this, users have to pay very high foreign currency transaction fees. Using a prepaid card instead of a credit card is generally considered better. You also use Forex cards.
