If you also have a credit card, then you must be doing these 5 mistakes that banks hide

Credit Card Bill Payment: Be it online shopping or transactions, the use of credit cards has increased a lot these days. Over the years, there has been a significant jump in the number of credit card users and the number of transactions done by them.

One of the biggest reasons for the increasing use of credit cards is that after making any purchase, you get a good 50 days to make the payment. It is also helpful in emergency use, but some mistakes while using it can also cause great harm to you. About whom even the banks do not tell the customers… let’s know about them

Credit card advantages and disadvantages
Using a credit card is safe and convenient, but it also has several disadvantages. While offering the card to the customers, credit card companies only list its advantages, while not giving any information about the disadvantages. That’s why it is important that when you use the credit card of any bank, you should take some precautions mentioned below, by doing this you will be saved from any kind of financial loss.

1- Pay bills on time
It is important to pay the credit card bill on time. You do not get any kind of reminder about the loss due to being in the credit card bill payment lane, yes you are definitely informed by message for pending bill payment. Maybe the companies don’t want you to pay the bills on time. This is because companies can charge late fees if there is a delay in paying the bill. On the other hand, it also affects your credit score. Let us tell you that the interest on credit card payment is very high.

2- Total Amount Due
When you receive a credit card bill, there are two amounts written on it – Total Outstanding (Total Amount Outstanding) and Minimum Amount Outstanding (Minimum Outstanding Amount). Many people believe that work will be done even after giving minimum amount of money, but the reality is different. Do not do this at all. Credit card companies charge a lot of interest if you don’t pay off the entire balance. Because of this, your bill increases significantly every month.

3- This problem related to free EMI
When you buy an expensive item, companies promise to convert the transaction into no cost EMI for free. However, you would be surprised to know that all terms and conditions apply. If you do not follow any of the terms and conditions, you may have to pay a lot of interest.

4- Bad cycle of rewards points
Credit card companies or banks often mention reward points while describing the features while issuing the credit card but later do not explain how to redeem these points. These reward points expire and the customer cannot avail them.

5- Increase in upgrade fees
Banks often offer you to upgrade your Silver card to Gold and Gold to Platinum free of cost, but they don’t tell you that you have to pay Rs. 500 to 700 rupees will have to be paid. Credit card holders often get calls saying that the credit limit on your credit card is being increased free of cost, but the bank never tells you that with the increase in the limit, the annual fee on your card will also increase accordingly. Will go