5 Smart Habits To Save On Your Credit Card Bill

Posted Date: Sat Jul 2016

You’ve got a new credit card and are excited about the fact that you’ll be able to take your card with you and not ever have to worry about carrying cash with yourself anymore. However to make maximum use of your credit card you need to avail the available discounts, offers, cash backs. Also you’d need to spend and shop smartly so you can save up thousands of rupees on your monthly credit card bill. If you follow our tips then you can easily be paying less than the actual cost of your purchases per month! Sounds great? Read on to find out what these amazing tips are:

Track Your Purchases:
This is a vital thing to remember. Always keep an eye on all your purchases and transactions. This will make you well aware of how much you’ve spent and how much credit limit is left as well as if GOD forbid any false/fraudulent transactions show up in your account you’ll be taking prompt action against it.

Timely Payment:
Once you do make a purchase from your credit card, the wise way is to pay back the outstanding due within the grace period because if you pay within the allotted time period then your credit card bill won’t accumulate any unwanted interest which is always a good thing.

Avoid Crossing Credit Limit:
When you get a credit card, you are assigned a credit limit after the bank analyses your credit history and salary etc. You may make purchases up to that limit after which your ability to make further transactions is suspended and you need to clear your outstanding dues. It’s best to keep a check on your outstanding amounts at all times and keep paying your dues within time because if you cross the limit then an additional fee is applied for it.

Avoid Withdrawing Cash:
Cash withdrawals from an ATM carry an extra fee and there’s no grace period. Instead the interest starts since the very same day and is quite a lot as compared to the interest that applies on overdue credit balance. Hence it’s not a wise idea to use your credit card to withdraw cash unless it’s extremely important or done in an emergency situation. 

Avail The Benefits:
Every credit card comes with its own set of perks. Always make sure that you’re up to date about what offers and discounts are currently available on your credit card and make full use of them whenever you can. Also some cards come with specific cash back programs such as fuel and grocery etc. For example if your credit card offers 5% cash back on your  monthly fuel consumption of upto PKR 10,000 or more, then you’d be entitled to a discount of PKR 500. Hence if you think you spend much on these services then get a relevant card and always pay via your card when spending on services that you use the most to get the maximum benefit.

This brings us to conclude this article and we hope that by following these tips you’ll be able to fully enjoy your credit card and save on your expenses without running into any sort of trouble. Use your credit card wisely and have fun!