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What is a credit card and how to use it?
A credit card allows you to make purchases by borrowing money from the credit card issuer up to a pre-defined limit. It is like a short-term loan.
You should use your credit card in the following ways:
- Spend only when you must and maintain your budget.
- Pay your bill on time.
- Read your Credit Card brochure about the benefits it offers and the reward program.
- Repayment method should be selected smartly.
- Minimize risk by using your card at trusted merchants.
- Spend within your credit limit.
- Do not close credit card accounts randomly.
