There is common confusion in using Credit card as there are some places where we should not use. This generation is looking for things to be done easily. Using credit card became passion to students also. In most of the cases credit card plays a major role as it a kind of security tool and offers many discounts. But we should be little bit caution in using credit card. Before going for credit card, we should know where to use Credit card perfectly. Initially we should know completely about the type of card using as there are different types credit cards available in the market.
Some Places we should Never Credit Cards
- Having huge limit is also not encouraging as it sometimes might be very difficult to clear all the credits at a time.
- When the due time is very less and if we are unable to pay credits, then we have to pay more rate of interest and sometimes the amount payable is double than the amount of actual credit due amount.
- Payment of some mortgage loans is impossible with Credit cards. If your bank allows to use also, they will demand for more rate of interest than the normal interest.
- In places where of purchasing large number of products, it is better to use debit cards rather than using Credit cards as rate of interest and tax percentage added is more for credit card.
- It is not correct in using credit cards in all online shopping websites. Because some websites are not secure and may hack your credentials easily. Sometimes you may not get the money back if want to cancel the order.
- Sharing Credit card details through social media is risky action as there is an easy chance of hacking your personal details.