Credit cards do bring a lot of convenience in life, but some people suffer big losses due to credit cards because many people do not understand the rules and usage techniques of credit cards. Today I would like to share with you some rules and tips that are often used when using credit cards.
Do you know the rules and usage tips of credit cards?
Many bank credit cards allow you to change the billing date. If the credit card cannot be credited temporarily due to special circumstances, you can modify the billing date before the billing date and push the billing date back, thus extending the billing time. However, it should be noted that the billing date can generally only be modified once or twice a year, so modifications should be made with caution.
1. Application for repayment time
Most credit cards have a grace period of 1-3 days after the final repayment date, but ICBC does not. If the final repayment date is late, If you still can't pay, you can call the bank's customer service to explain the situation, and then repay the loan in a day or two, but it must not be later than the final grace period, otherwise it will be overdue.
2. Consumption after billing
The most basic skill in using credit cards is to make reasonable use of the interest-free period. If you consume after the bill date, you can enjoy the longest interest-free period. Generally, you can get about 50 days of interest-free period. And if you consume before the bill date, you may consume today and pay back tomorrow, which loses the meaning of using a credit card.
3. Not paying the minimum repayment
Some people will choose the minimum repayment in order not to affect their personal credit when they can't pay it off for a while, but most people will not choose the minimum repayment. Repayment, because the minimum repayment interest is quite high, there is no interest-free period, and the minimum repayment often affects the credit card limit increase.
4. Pay off the entire bill with a low amount
That is, you can pay off the bill in full with about 10% of the bill amount. The method is to start as soon as the bill comes out. Pay off the loan, then withdraw the money, then pay it back in, and so on, so that it can be paid off before the final repayment date. This method is very clever, but you must pay attention to the operation method when operating, otherwise it may cause the credit card to be reduced and blocked.
5. Repayment on the last repayment date
Usually you can start repayment after the bill comes out, but if you always repay as soon as the monthly bill comes out, then You won’t be able to enjoy the longest interest-free period. From the credit card statement date to the final repayment date, the repayment time is usually about 20 days. Repaying on the last repayment date can effectively take advantage of the interest-free period, but be careful not to wait until the last day to avoid failure to repay. Success caused overdue. There is no benefit in repaying the loan too early. We can wait until a few days before the final repayment date before repaying, and then put the funds in the money fund to earn some interest.
6. Set up automatic repayment
In order to effectively utilize the longest interest-free period and avoid overdue payments, it is best to use automatic repayment. At present, the credit card repayment functions of Alipay and WeChat are very easy to use. You can set up automatic repayment or schedule repayment in advance, so you don’t have to remember the repayment date. Note that when using automatic repayment, you must pay attention to whether the funds in the repayment account are sufficient, otherwise it will become overdue.
7. Change the bill for a large amount of consumption
After making a large amount of consumption, if you do not expect to have enough money to repay when it is due, you can modify the billing date, which can extend the interest-free period. The longest interest-free period is about 70 days. Although most bank cards support modifying the statement date, it cannot be used frequently. It is good to use it occasionally when financial difficulties occur, because credit card statements are generally only allowed to be modified once or twice a year, and some banks also stipulate that the statement cannot be modified. day, or it can only be modified once, and it cannot be modified later, so it must be used with caution.
8. Do not apply for credit cards together
Credit cards and personal central bank credit reports are the most closely related credit tools. It is recommended not to apply for more than 2 credit cards at a time. Because every time you apply for a credit card, the bank will check your personal credit report. If you apply for too many credit cards within a period of time, you will be checked too many times and be recorded on the credit report, which will make the bank feel that you are short of money. , the risk is high and it is easy to be rejected.
9. Try not to withdraw cash
Not only does the handling fee for cash withdrawals be very high, but there is no interest-free period, so avoid using credit to withdraw cash. Moreover, most bank credit cards do not easily allow users who withdraw cash to withdraw funds easily, so it is better to use the cash withdrawal function as little as possible.
10. Don’t be overdue
The biggest risk in using a credit card is overdue. Overdue will not only generate high interest, but will also be recorded in the central bank’s personal credit system, which will affect personal credit Approval has an impact. Try to do a good job in risk management and control to avoid this kind of thing happening. If you really don’t have money, you can repay in installments and with the minimum repayment amount.
11. Cancel unused credit cards
Most credit cards have annual fees, which can usually be reduced by paying a certain number of times or a certain amount. For credit cards that have not been used for a long time or have been lost, be sure to cancel them in time to avoid being swiped or overdue due to annual fees.