CIBIL Score Tips: These 8 mistakes of credit card holders will ruin their CIBIL score..

CIBIL Score: If you use a credit card, then you must know how to use it properly. If you do not use it properly, then you can get into many big troubles. A mountain of debt can fall on your head. Apart from this, your CIBIL score can also be ruined. Let us tell you that the mistakes made on the credit card have a direct impact on the CIBIL score. If by chance your CIBIL score becomes bad, then there may be a problem in getting a loan.

Payment of EMI on time -

If you have purchased anything with a credit card, then it is very important to pay its EMI on time. If you do not do this, then you may have to pay more interest. At the same time, you can also get a message from the bank that you are in a financial crisis. In such a situation, your CIBIL score can come down.

Do not fill the minimum due account -

You should avoid filling the minimum due account. This is because it can trap you in the debt trap. This makes the loan last for a long time and the interest keeps on adding up and it becomes a big amount, which later becomes very difficult to repay.

Credit card limit -

If you want to keep your CIBIL score better (CIBIL Score Latest Updates), then credit card plays the most important role in it. Whenever you use a credit card, keep in mind its limit. Do not use more than 30% of the credit card. If you use more than this, then its effect will be directly seen on the CIBIL score.

The disadvantage of withdrawing cash from a credit card -

When there is a sudden need for money, people think of withdrawing cash from a credit card instead of taking a loan from a bank. But, for your information, let us tell you that this decision can put you in trouble. Because many types of charges are levied on withdrawing cash from a credit card. Along with this, interest also starts being charged on it as soon as the money is withdrawn. This costs you a lot.

Making every purchase on EMI -

Choosing the EMI option on every purchase made through a credit card can also cost you heavily. Because this gradually increases the burden of debt and at one time you get burdened with the financial burden. Along with this, your civil score can also be ruined. In such a situation, do not buy things in installments all the time.

Offers and reward points spoil the game -

Many times, in the pursuit of offers and reward points, people buy something or the other on EMI from a credit card. But doing this is not right at all. Doing this can increase your financial burden and can also spoil your budget.

Keeping multiple credit cards at once -

Many times people take the help of credit cards to fulfill their needs and get more than one credit card. But keeping more than one credit card can put you in trouble. Due to this, you may forget the payment due date. Also, you will have to pay the annual card charge unnecessarily.

Do not make payment without reading the statement -

Many times, in a hurry, people make payments without reading the statement. This may lead to wrong charges and there is also a high risk of fraud. In such a situation, whenever you make a payment, do read the statement.

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