Maximize Your Credit Card's Potential with These 5 Tips

Credit Cards = Reward points, cash back, and exciting offers! By using your Credit Card responsibly, you can access a LOT more than just these benefits. Here’s how!

Know the rates and charges

Check out the interest rate (called APR) and charges associated with the card so that you can avoid them and save the added expense.

Pay on time

Always pay the credit card bill within the due date to avoid late fee, interest charges and a negative impact on your credit score.

Make full payments

Payment of the Minimum Amount Due (MAD) enables carrying forward of the remaining bill to the next cycle. Avoid this. Pay the bill in full.

Automate payments

Place a Standing Instruction (SI) on your bank account to pay the credit card bill regularly. You will be able to avoid late or missed payments.

Utilise limits responsibly

Spend what you can afford. Limit your credit card use to keep your utilisation ratio low. This would help improve your credit score too.

Choose a credit card that gives you rewards and benefits while keeping the fees low, just like IDFC FIRST Bank Credit Cards.