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Credit Card Ka Smart Use Kaise Karein? Benefits, Hidden Charges Aur Meri Personal Learning

Part 1 – Credit Card Kya Hai Aur Kaise Kaam Karta Hai?  How does a credit card work? A credit card can be an easier way to pay for everyday items, but it’s worth understanding the basics before you start using one. A credit card allows you to borrow money to spend, up to a pre-set limit, as opposed to a debit card which takes money directly from your account. You may avail of this facility for shopping, online transactions, booking tickets/travel and other purchase available for this facility. The bank will then generate your bill after the billing cycle. The key is that credit card money is borrowed money – not additional income. You are still required to pay back the sum on time, at the card’s terms and with the due date.  Let’s say you buy groceries, fuel and shopping online for ₹8,000 in a billing cycle. Even if you don’t pay for these today, they don’t go away. They are also added to your accumulated credit card bill. If you pay the full statement balance b...
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Credit Card Kya Hai? Faayde Aur Nuksaan Jo Har Beginner Ko Pata Hone Chahiye



Credit card bank ya financial institution ki taraf se issue kiya gaya ek plastic (ya metallic) card hai jo aapko ek pre-approved credit limit deta hai jis paras you can make purchase in shopping and bill payment, joh apne bank ke paisa kharch karte hai bank apko provide karta hai ek fixed time period jise hum kehte hai..interest free grace period, jisme betar payment karne ke liye, karze is interest free period ke under 45 to 50 days ko hota hai. 

If you pay the entire credit card bill within the grace period you are not liable for any additional charges. However if you fail to settle your bill by due date, the bank levies hefty interest rate on you (30% to 42 % per annum) as well as late payment penalty. For a novice user credit card is as deadly as double-edged sword. If used with discipline and proper knowledge it is a wonderful financial tool but careless use can land you in the debt trap.
Sahi tarike se use karne par credit card beginners ko kai jabardast advantages deta hai:
 Cibil Score (credit score) Gets Built: Using a credit card is best way to build your credit score. Paying your bills on time results in good CIBIL score which helps you get Home Loan or Car Loan in future easily and at a lower interest rate.

Rewards, Cashback and Offers: Every time you shop using your credit card, you get Reward Points, CashBack Flat, Free Flight /Hotel Vouchers or Discount Coupons, which you will not get with your regular debit card / Cash.

Support of Emergency Fund kaa Conversely: Jab koi emergency ke mataaleq mein, agar cash on hand na ho, toh (us ke liay credit card ek aise financial backup ki tarah kaam kar sakta ho hein.

Interest free Short Term Loan: You get access to your local bank for 45-50 days to loan cash without any intrest. In this period you can keep the money in savings account and earn interest on it. Also you get secure Zero Liability Protection in case of frauds or neautrual transactions as compared to Debit Card.
While Jahan has its pleasures and benefits, it also poses some serious risks that any beginner should be wary of before venturing into such activities:

High Interest Rates (Bhaari Byaj Rates): Bank charge karte hain 3% se 4.5% (36% se 50% saal ka) monthly interest on remaining balance agar poori bill due date tak nahi bhara gaya ho, jo aapke loan ke liye bhi mehenga hai. 

Spending more than you have(overspending): Since there‘s the illusion of free money, people spend more money than they earn (impulse Buying). Not fearing the shortage of cash, they blow their budget.

Minimum Amount Due Ka Trap: Bank bill statement mein ‘Minimum Amount Due’ (aamtaur par bill ka 5%) payments karne ka option dete hain. Jab naye users isse poora settlement samajh jaate hain, remaining 95% amount par zibadasta general prakriya lagan hona prarambh hota hai, aur aap debt trap mein atak jaate hain.

Charges jaisi (Late payment charges, Annual charges, Joining charges and cash withdrawal charges (when you use credit card at ATM for cash withdrawal then it is charged from the first date0) are some hidden costs which increases bill.
To be benefited by credit card and avoid debt beginners should follow these 4 golden rules:

Always Pay full Bill On time: Before the due date, make the payment of the Total Amount Due. Never leave the bill by paying Single Minimum Amount Due and always keep Auto-debit feature enabled.

Credit Utilization Ratio (CUR) Clean Rakhein: Use only 30% to 35% of your total credit limit. Suppose your limit is Rs. 1 Lakh, then do not use more than Rs. 30,000. This will keep your CIBIL score very strong. 

Never withdraw cash: Use of the credit card and taking cash out from ATM is the biggest mistake. This not only attracts instant transaction fee but starting from 1 st day high interest rate is charged.

 Lifetime Free (LTF) Lein for Pehla Card Shuruaat mein koi bhi annual fee wala Lifetime Free card ya FD-backed credit card ke liye Apply. 

Final word: Credit card is a great financial instrument. If you treat it like a debit card by not spending more than what you have in your bank account you can reap all the advantages without any risk.
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