Credit card mantras you must know in this lockdown period so that you can be safe and secure while using the credit card. Here are five best credit card mantras we must follow amidst COVID-19.
Think Before You Pay.
This is the essential Mantra. Because in this quarantine time, most of the people were jobless. Most of them were in the situation with no income because of this pandemic. People may think that using the credit card they can buy all their needs, but the truth is, most people forget how they will repay the amount before the due date.
The first thing is to think about whether we can pay the amount before the due date. Or else the rate of interest will increase that you can’t even bear. So the important thing is to think before you buy something using the credit card. Have the way in your mind to pay the credited amount, and then you can surely use the card happily without any problems in the future.
Better Avoid EMI Options.
Most importantly, in this pandemic situation, the income of many people is a question mark. Most of the families may depend on the credit cards as they can pay later, but not immediately. But if people choose the EMI option, the more considerable amount may go away without any gain. So in this situation, people can use the EMI option only in the case of an emergency.
Don’t Get Over-excited While Shopping.
In this period, most of us will search for products online. Many websites online will tempt you to buy their products. Like, even if the product is not necessary for you this time, the pop-up suggestions and ads will tempt you to purchase those products since we are inside our homes.
The people who are more excited about shopping, and since they have no shopping malls opened to buy today, people start to shop online using the credit card. Most of the people will never check their credit card balance and do an overboard shopping.
This is a significant blunder. This may charge you a huge fine, or else the amount may be huge that you can’t even repay it later. So obviously, the rate of interest increases. So, at this time, you have to think and pre-plan what are the products that are necessary to you and then buy that.
Cleverly Use Your Reward Points Before They Get Expired.
The people who use the credit card will know what the reward points are. But the reward point has its expiry date. We have to use it properly before it gets expired. People may think that in this lockdown period, they can’t use these reward points, and it’s wasted.
The main thing is, we should not waste those reward points buying unwanted stuff. That is, only for spending those reward points, you should not lose it, buying unwanted things that you don’t need this time.
The necessary items which are required now could be purchased by the reward points so that you have to know when the reward points get expired. If you are not willing to buy things online, then the best way is to buy a discount coupon using that reward point. That may be from your favorite shops or hotel, etc. so the main thing is cleverly to use your reward points this time. Get it useful.
Aware Of Your Credit Card Bills Often.
This must be standard practice. But in this lockdown period, it should be checked often, at least monthly once. These days, most of the banks are facing troubles financially.
Suddenly you may notice various debits in your bill, like extra card charges, insurance, health premiums, etc. If you see this, immediately inform your bank not to debit unnecessary laws other than standard costs. And, you can always generate your new credit card. Learn how from this blog. In this period, never authorize any such debits over phone calls. Be aware.
These are the five best credit card mantras amidst COVID-19. Be aware of fraud and online thefts. Never miss your credit card. In this lockdown period, these are the main things you must know. Don’t go over the limit. Do everything with a pre-plan. Think before you leap!