Credit Card Benefits
Both are governed by different rules. Use your credit card to use the bank’s money, not your own. It is important to emphasize that you can use your credit card for free when you follow credit card rules, the three most important of which are not to exceed your credit line, always pay off your debt on time, and not use it to make cash purchases. Applying for a credit card is very easy.
Your credit card is not the same as your credit card.
The credit line is set individually by the bank, which is usually 2-3 times the net income. In this article, we’ve collected the benefits of a credit card. If you follow the credit card rules, you can only win with it and even save money. The credit card is recommended for accurate, accurate customers who can pay attention when using it. If you know that you are unable to meet the terms and conditions, consider using it more carefully as it is very easy to build up a debt with a credit card and then roll your debt for years.
You can get a refund for credit card payments
The credit is usually 1-3%, but in some cases it can be as high as 6-10%, with a maximum limit set by the bank on a monthly, quarterly or yearly basis. Credit card users discounts or rebates may be entitled to certain stores, web stores.
You can also use your credit card to earn points , which you can redeem at web stores. A credit card has an annual fee, which is usually released by the bank in the first year.
In most cases, there is no monthly account management fee. A credit rating is applied to determine the credit line. You may request a subsequent increase or decrease in your credit line, which will also be decided by your credit institution. If positive, the credit review will adjust the credit line.
When using a credit card
There is a 1-month spending period, during which you can use your credit institution’s money for free up to the amount of your credit line . The next period is the repayment period, which is 15-23 days, during which the outstanding balance at the end of the previous month is settled. It is important to note here that this 15-23 day refund period is already part of the next 1 month spending period.
You can use your bank’s money for free for a fixed period of time, usually 45-53 days. If you exceed this period, the bank will charge interest on the outstanding debt.
Financial institutions generally expect a minimum fee of 5% of their end-of-month credit card debt, and if they fail to pay, they will usually charge a default fee in addition to the interest charged on the outstanding debt.
If you use direct debit with your credit card, you can receive up to 1-6% credit . So you might understand that your credit card is used to pay for your utility bills, telecom subscriptions, etc. fees.