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How to cleverly utilize the credit card account period to achieve the longest interest-free loan?

The reason why credit cards are highly praised by many people now is that in addition to the convenience of swiping the card when making purchases, you can also enjoy the interest-free period. However, the most cost-effective way to use credit cards is as follows:

Reduce credit card withdrawals

Many people choose to use credit cards to withdraw cash when they do not have cash, but Due to high handling fees, credit card cash withdrawals will incur additional fees, which can range from tens or even hundreds of yuan. This extra cost is completely avoidable.

Make full use of points

Credit cards from major banks support point redemption. You can use points to redeem supermarket shopping cards, movie coupons, gas cards, etc., and you can get up to 5 cash back. %, you can save a lot of money in the long run.

Avoid using the minimum payment amount

If you can make the full payment, do not use the minimum payment amount to make the payment. Although the bank allows a minimum repayment amount and will not cause a bad credit record, additional interest will still be incurred on the unpaid balance.

Make full use of the interest-free period

First of all, you must remember the two key dates of your credit card: the billing date and the repayment date. Taking the credit card used by the editor as an example, the billing date is every month 10th, then all my consumption from April 10th to May 9th will be shown on the bill on May 10th, and I need to pay off the money on May 27th (the repayment date).

If you can predict in advance that there will be a large expenditure in the near future, and it is not very urgent, please try to swipe your credit card the day after the bill date! This way we can enjoy a longer repayment period. Suppose I make a purchase on May 11th. It will not be shown on the bill until June 10th, and I will not have to repay the money until June 27th (the repayment date). In other words, the money I spent on the 11th is equal to There is a 57-day interest-free period.

In addition, you can apply to change the billing date for credit cards from some banks. It should be noted that not every bank supports changing the billing date, and some banks still need to repay according to the current bill after the change. Therefore, you need to call the bank before using this method and consult clearly before proceeding.

You need to pay attention to the following points when using credit cards:

1. Spend more with your card. The main way to use a credit card is to make purchases by swiping the card. You can enjoy a certain period of interest-free period by swiping the card, and sometimes there are some discounts. In addition, the annual fee exemption for credit cards and the accumulation of points are related to the number of credit card swipes, so you should use your credit card frequently to make purchases.

2. Repay the loan in full and on time. If the repayment is overdue, the bank will not only charge overdraft interest but also late payment fees. In serious cases, it will cause bad credit and cause a lot of inconvenience for future loan applications.

3. Only pay back the outstanding balance to avoid overflowing deposits. The overpayment of a credit card is the excess deposited by the credit card holder after paying off the outstanding balance. Credit card overflow deposits will not accrue interest, and additional handling fees will be incurred if you want to withdraw them (some banks do not charge them), which is really not cost-effective.

4. Use credit card installments rationally. Credit card installment payments will incur additional fees, so be sure not to abuse them.