Quick Tips for First Time Credit Card Buyers


Most of us love to shop. However, the limited amount of funds in our wallets restricts us from making huge purchases. Now, what if there was sale going on in your favourite shopping outlet, and you did not have enough cash to shop?

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Such opportunities exist for a small time, and to make best out of them, banks and other financing bodies provide credit cards. These cards give you the freedom of purchasing things with just a swipe. If you have newly acquired such shopping liberty, then follow these few tips.

1> Secure Your Card:

Secure your newly acquired freedom by keeping it safe in wallet or bag packs. Do not use it at suspicious places, keep it away from strong magnets, and avoid sharing credentials and details. This way, no one will misuse this newly acquired purchasing liberty.

2> Keep a track on Credit Report:

At the end of each month or the billing cycle, Credit Card Company will send you a summary of purchases and the amount to be paid. If you are a regular shopper, then it is recommended to verify each transaction.

3> Know the Annual Fees:

Every privilege comes at a cost. For the freedom of purchasing with a swipe, credit card companies charge an annual fee. Such fees vary from company to company and cards to cards.

4> Understand the Fees:

Do not be surprised to pay unforeseen charges if you haven’t read the terms, conditions, charges, and fee structure of credit cards. Services such as SMS and mobile updates come at a cost with your card. Understand the fee structure before applying.

5> Understand the different rates:

Depending on the type of card selected, transaction rates will vary. Carefully understand the rates so that you will have a better idea of charges while making transactions.

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