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6 Smart Ways To Avoid Delaying Credit Card Payments
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Credit cards are a great inclusion to your wallet. However, reckless usage can dent your future finances. Credit cards are the greatest monetary element to happen to humankind owing to the various discounts, deals, and offers they run regularly. Timely payment of credit card bills not just keeps you at ease but also boost your credit score.
Apply for credit card and avoid credit card bill payment delay using the following practical measures:
• Big purchases and impulse buying: Whenever you get the thought of buying something that is not going to serve any purpose in your life, apply brakes. Try doing so temporarily. It will turn into a regular habit. Three days is sufficient to bring about this habit. The duration depends on you. It is easy to get tempted, either in the store or online. When you wait for a few days, you can be more logical.
• Pay off charges: Treat your credit card as a debit card. Use the card for purchases that you can afford with the money in your bank account. The trouble comes when you buy a high-value item, only because the time to pay the bill is more. This way you will get caught in the loop of catching up to previous charges. If you find yourself in such a scoop, the best thing to do is start paying the bills right away.
• Credit card information: E-commerce websites have made it convenient to purchase anything these days. It is a good thing but not if you are a credit card user. We use the credit card information to make the purchase and save them for future purchases. Do not keep any credit card information stored on any site. It will not just curb your spending habits but also keeps your financial information safe.
• Shopping alternative: Shopping is not something we out of necessity. It is an enjoyable activity for many. It comes with a cost, though. Replace it with an alternative. Hit a gym if necessary. If need be read a book or watch a movie. Find an option that is exciting as well.
• Long-term expenses: Do not use your credit card to pay the long-standing dues. There is a personal loan for such a purpose. In fact, the interest rates are better under personal loans. Also, you will have reasonable monthly instalments in place instead of revolving around the credit card line.
• Knowledge on credit card: Credit cards generally come with interest rates, fees, and several reward programmes. Apply for credit card that suits your requirements. You have to notice factors such as membership costs, renewal of annual fees, and grace period apart from the rewards and discount factors. If you find the website’s explanation inadequate, take assistance from the customer service.
All depends on how you monitor your funds and make smart decisions. These hacks only encourage positive spending choices and build good habits with a credit card.
What are the facts to remember?
Although it is imperative to pay bills consistently, you need to take some efforts apart from the financial aspect:
• Recognise and change your spending patterns
• Follow a budget
• Inculcate a disciplined approach before you apply for credit card
Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about credit card. Through her work, she has written on different ways to get rid of credit card debt
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