Card Insider

Many individuals think that credit cards should only be used for major purchases and unexpected expenses, not for regular spending. It is important to understand one of the most common misunderstandings around credit cards. As long as you don’t go over, there is no danger in using your credit card for everyday purchases. If you’re one of those people who think credit cards shouldn’t be used for regular purchases, you should read this article to see why it might beneficial to do so: Should you use your Credit Card for everyday Purchases? Yes, you are free to use credit cards for regular transactions. It is much simpler to use a credit card than cash or a debit card if you know how to use one properly, so you should use one everywhere you can. The credit utilization ratio, payment due dates, etc., are just a few factors you should keep in mind while you do this. The following are the major advantages of using a credit card for regular purchases: Benefits of making daily purchases...

No-cost EMIs is beneficial to clients, but not everyone is aware of this since they let you make large purchases and pay you back in flexible installments without paying any interest. In this article, we will discuss what free EMI offers on credit cards, how they help consumers, how you may gain benefits from them, and whether you should choose them or not.   How Does No Cost EMI Works? Let’s imagine a buyer wants to buy a smartphone for Rs. 30,000. The annual interest rate is 13%, and you are selecting a 3-month EMI plan. Therefore, over the three-month term, the total interest on this loan would be Rs. 638. No Cost EMI Plan EMI Plan Rs. 10,000 × 3 months Interest (p.a) Rs. 638 (13%) Discount Rs. 638 Total Cost Rs. 30,000 After the order is placed, the discounted value of Rs. 29,362 will be paid to the bank which is Rs. 29,362 (Rs. 30,000 - Rs. 638). Within 4 to 7 ...

Introduction Credit cards have their fair share of benefits and drawbacks, just like any other kind of credit or loan. On the other hand, it grants someone the freedom to make purchases without concern for their financial situation. However, skipping payments on credit card balances can send a person into a loop of increasing debt. There may be circumstances in which it makes sense to delay paying using a credit card, especially if there is a financial crisis. But in addition to late payment fees, skipping credit payments might have penalties that have a long-lasting impact on one’s financial situation. To make things simpler, many card issuers provide a choice to transfer your existing debt to another credit card using balance transfer credit cards which provides a time limit during which you must pay either no interest or a reduced rate. The following are some drawbacks of delayed credit card payments. Higher Rate of Interest Credit card companies often charge a penalty interest rat...