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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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FinFIRST Blogs
A credit card offers several benefits like cashbacks and rewards points. However, to make the most of it, you must you manage your card well while enjoying its benefits to the fullest.
The following tips can help you make the most of your card:
Don’t miss out on the details
Know everything about your credit card, from its reward features, and cashbacks to its VIP-access benefits. Is it a lifetime free credit card? Is it a card tailored specifically towards women? Knowing these details will help you understand the features better.
Next, ensure that your card can benefit different aspects of your lifestyle, from travel and food to entertainment to shopping. Read the fine print to know about any additional possible benefits like extended warranties, credit shield, and insurance. Knowing your card will help you maximise the benefits of your card transactions.
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Pay bills on time
You can incur penalties when you make payments after the due date. Frequent payments beyond the due date can negatively affect your credit score. This can affect your ease of obtaining loans and other forms of credit.
Pay the full amount due
Credit card payments come with the rollover of dues upon the payment of the minimum balance. Try not using this feature too much. On paying the entire amount on time, no interest is applied. But outstanding dues are often charged with some percentage of interest. The interest is also charged on any new purchases you make while the recent outstanding amount remains unpaid. Make complete payments and avoid paying anything extra in the long-term.
Protect your credit score
How you use your card and make payments impacts your credit score. Missing a due date or making many purchases you can’t afford can negatively impact your credit score. You can avoid such issues by setting measures in place, such as a budgetary limit for shopping and prepayment plans before making high-value purchases with your card.
Keep track of deals and offers
Monitor new offers and reward points for your credit card online or on other communication mediums. Make a habit of checking the validity of your points before you choose your shopping destinations. Also, keep track of any expiry dates that could be attached to your credit card rewards points or loyalty points. This way, you’ll ensure that you don’t miss out on capitalising on the different benefits of your credit card.
The above tips should help you utilise your credit card well and benefit from the rewards, cashbacks, and the credit score improvements.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.
