If you are a credit card holder, then you know that there are some strict do’s and don’t for the same. You just can not use your card anywhere and everywhere. And if you are doing that without following the rules, you are risking your card.
But during the lockdown, some new rules are formed. Some situations occurred for which we were never ready. So here are some of the mistakes that you should never make during the pandemic outbreak
1. Do not use moratorium
Okay, so since The Reserve Bank of India has offered a moratorium on your EMI for the three months till June, you might find it a good way to keep your expenses on track at least till this lock down. However, if you take this moratorium, then you are going to affect your credit worthiness and it will reflect. Also, you have to pay the interest which you can save if you do not opt for the same.
2. Ignoring the bill
If you are thinking that since we all are suffering, you can ignore your credit card bills for a while, then it is not how it is. You should never do that. If you are ignoring your bills and making delays on payments, then you are risking your credit report. Do not do that. Pay your bills on time.
3. Not using the points
If you are not aware with the fact, let us tell you that all these credit card reward points come with an expiry date. If you cross that expiry date, you will not be able to use the points ever. Hence, you must use the points within the time else you will lose it forever.
So these were the best tips you should always remember if you are going to use your credit card in lockdown.
Be safe, keep your card safe.