Credit Card: Do not make these mistakes with your credit card, otherwise your card will be cancelled in a jiffy..

The use of credit cards has become common nowadays. It helps a lot in fulfilling our needs, but if you do not take some precautions, then your card can also be closed suddenly. In such a situation, if you also use a credit card, then you should not make any mistakes even by mistake. Let us know what the things are that should be avoided, so that your card remains safe.

Not completing KYC

Your bank or card company has to verify your identity and address, which is called KYC. If you do not complete KYC or ignore the mail and notice sent by the company, then your card may be canceled. Therefore, complete the KYC process on time.

Not using the card

Many people think that an unused card is safe, but it is not. If you do not use your card for a long time, then the bank can close it because they do not get any benefit from that account. Therefore, make sure to use the card at least once a month.

Not paying on time
If you do not pay your credit card bill on time, and this continues for several months, then the bank or the card company can cancel your card. Therefore, pay at least the minimum amount on time every month.

Avoid a credit inquiry by the credit card company.
The card company periodically conducts a soft inquiry of your credit report to check whether you are paying other loans on time or not. If any problem is found in this inquiry, then your card can be closed, so keep paying your other payments on time.

Pay attention to irregularities in transactions.
If there are unknown or suspicious transactions on your card, the bank can block the card for security reasons. Therefore, always monitor your expenses and report any unknown transactions to the bank immediately.

Make sure to pay the minimum payment.
If you have been thinking that there will be no problem in paying less than the minimum payment, then let us tell you that doing so can become the reason for cancelling your card. Therefore, always pay the minimum payment mentioned on the bill or more than that.

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