*Credit Cards -Make the best use of the plastic:*
•Go for the cards with Zero Annual Fee.
-This shall save you of the expense of annual fee.
•Use only 2 cards for your regular use.
-This is easy to carry and remember their billing dates.
•Chose the cards with different billing cycles preferably by a fortnight.
-This shall allow you to avail interest free purchases for the entire month.
•Store the cards visibly in your wallet so that any loss can be noticed without delay.
-This shall ensure any missing card and its probable misuse.
•Keep the transaction slips safe till the bill is received and tallied with such slips.
-This is important to avoid any double payment in case card is swiped twice.
•Keep a diary for on line purchases to cross check bills as no charge slips are available.
-This is necessary so that you are not charged in case of a failed payment.
•Keep a mental note/ reminder of the billing dates and check on phone if bill not received.
-This shall avoid late payment possibility.
•Make full payment at lease 3 days before the due date and keep record of such payment.
-This shall ensure that no late fee or interest is levied on purchases.
•Ensure that the cheque has been presented by the Bank timely, if not, remind the Bank.
-This shall stop the possibility of loss of instrument and payment of penalty/interest
•Use first card after its billing date and the second card when its billing date is crossed
-This way you can enjoy interest free purchases for full month.
•Avoid taking balance transfer on your cards.
-As some banks levy interest on purchases in case any balance transfer is outstanding.
•If you take a balance transfer do not use that card for purchases till BT is paid off.
-This way you shall avoid payment of interest on purchases.
•Do not disclose CVV(3 digit code on reverse) and validity date to anybody on phone.
-This shall avoid the probable misuse by anybody else for transacting on net /phone.