Most follow credit card rules, which benefits you.

 

Credit cards good habit to follow

 

 If you have a credit card, then the following rule will be helpful to manage your credit card: When you have a credit card, then you are getting a credit period.

In this, I am giving you the rules which put you on track for your credit card usage and how using a credit card can benefit you. This rule also lets you pay your bill on time.

Most follow credit card rules, which benefits you.

 

1. You cannot withdraw money using a credit card.
2. You can not use a credit card if you have no money in your savings account.
3. You are not permitted to spend more than 30% of your credit limit.
4. You have to pay your credit card bill by the 40th day.
5. Be alert when your statement generates
6. Pay the money on the maximum 9th day or 10th day after the statement is generated.
7. If you don't pay the bill on the 10th day, you have to pay a penalty of 2% +18% GST of the amount to buy gold, silver, or crypto.
8. Every time how much money you spend on a credit card must be backed up, that backup must be written in excel.
9. You should not use your credit card in a month that is divisible by four. For example, August (08) is divisible by four, so you should not use your credit card this month.

 

Do not put money in a savings account. You can put the money in a fixed deposit account or any safe asset with a lock-in period of your credit card grace period. The lock-in period ensures that you are not spending the money but rather spending the money you invest somewhere in which your spent money works for you for a limited time. You can also invest that money into a liquid mutual fund, which can give you a good return in the short term.

 

Everyone should pay their credit card bill on the 40th day. I am telling you this through my experience if you continued paying on the 7th or 10th day. You have a grace period of 10 days. If you have a shortage of money, you have some time to arrange it. So pay your bill by the 40th day of the credit period.

Every time you spend money someplace, just think you have to go to your bank for that deposit to keep your mind on track.

After buying anything by credit card, you must see the bill and keep seeing yourself while you pay your credit card bill.

You can also deposit money in the bank for your credit card bill, then pay your credit card in any payment mode.

You can also open a separate bank account. When you use a credit card, you simply transfer the money to that bank account, giving you the impression that you are spending your own money. A credit card is designed in such a way that when you spend money, it seems like you are using other people's money for free, which is why we spend more. When we spend money, it seems like we are not spending money, for which many people spend more unknowingly.

This makes you aware that whatever you spend is your hard-earned money and you can avoid the trap (make the habit of spending with rewards and fall into an unnecessary spending trap) OF BANKS. That's why Rule Number 9 comes to break a certain pattern that is beneficial for you.

Remember to check your money before and after paying with a credit card.

I AM ONLY SAYING THIS TO YOU BECAUSE THE BANK WOULD LIKE YOU TO FORGET WHATEVER YOU SPEND AND ONLY FOCUS ON EARNING SO THEY CAN CONVERT YOU TO THEIR CUSTOMER FOR A LOAN IN WHICH YOU FEEL COMFORTABLE PAYING THE BIG LOAN WITH GOOD INTEREST AND STILL FEEL GRATEFUL AFTER GENERATING CASH FLOW FOR THEM.

LEARN ABOUT CREDIT CARD MISTAKES

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THESE ARE THE RULE YOU HAVE TO FOLLOW WHEN YOU  HAVE A CREDIT CARD BEFORE THE AGE OF 52.

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