Credit Card: Credit card holders should know about big losses which banks never tell about...


If you violate even one condition, you may have to pay not just 5 or 10 but even 20 percent interest.


What is the benefit of credit card?
The biggest advantage of credit card is that money is not debited from the account immediately. Rather, there is a grace period to repay it. At the same time, there is no loss of interest if payment is made during the grace period. But, do you know that if some things are not kept in mind while using credit card, then one has to suffer a lot of loss.

Do not ask for money on time
You must have often noticed that whenever the balance in your account falls below the minimum, there is a flood of messages on your mobile. But, you do not receive any message to deposit the credit bill. Because, the company does not want you to make the entire payment in the first month itself. Rather, the companies want you to delay further and pay the late fees later.

Nothing like free EMI
Customers are often promised 0% EMI on Free EMI credit cards. But, you will be surprised to know that the terms and conditions of EMI at 0% interest also apply. If you violate even one condition, you may have to pay not just 5 or 10 but even 20 percent interest.

How to redeem points
You get some payback points while purchasing with credit card. But, the bank never tells you how you can redeem your points. In such a situation, due to lack of information, lakhs of points remain idle and the credit card gets expired. Apart from this, when your points cross the landmark like 1000 to 10,000, then the bank does not tell you that you have got so many points and you can avail cashback benefit by redeeming them.

Card upgrade charge
Often people upgrade their credit card to a higher ranked credit card. Banks also often offer customers that these upgrades are free of cost. It is often costly to upgrade silver card to gold and gold to platinum. You should know that for a new credit card you have to pay a fee ranging from Rs 500 to Rs 700.


Free credit limit
Often we are happy that the credit limit of our card has been increased for free. Credit card holders often get such calls that the credit limit of your credit card is being increased for free. But, very few people know that the bank also increases the annual fee according to your limit. But, banks do not provide this information themselves.

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