In our society there is a myth that credit card makes us to
spend beyond our means and lead you to a debt trap. But one thing I like to say
here that it is not a credit card's issue it is your temptation which lead you in debt
trap if we go beyond your limit to test card limit. Card company or bank never
say that go and spend which you can’t pay.
Now let me explain how I use my credit card. I have a credit card
with money back feature having billing date 4th of each month having
due date 30th of the month. I try to use my credit card as much as
possible though out the month for all my purchase and utility bills. I never spend without having plan for bill payment in place.
I have register auto pay for bill payment with my bank
account to minimize the risk to non payment of credit card bill . Now suppose I have a bill of 20000rs for a month. So I can earn 25
days interest on my bill amount with ROI 4% as per my saving bank account. And the
money back point are the bonus. I used to park my bill amount in some liquid fund which
result more risk free return.
I like to just mention that day before yesterday I have
redeemed my cash back point which bring my credit card bill for this month to ZERO.
Be a controlled and informed user of credit card.
nice use..
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