{"id":2162,"date":"2024-06-29T10:57:44","date_gmt":"2024-06-29T10:57:44","guid":{"rendered":"https:\/\/cms.lxme.in\/credit-cards-can-be-magic-cards-when-used-correctly\/"},"modified":"2024-09-18T12:55:25","modified_gmt":"2024-09-18T12:55:25","slug":"credit-cards-can-be-magic-cards-when-used-correctly","status":"publish","type":"post","link":"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/","title":{"rendered":"Credit cards can be magic cards when used correctly!"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#1_Setting_a_reminder\" >1. Setting a reminder<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#2_Maintaining_a_budget_journal\" >2. Maintaining a budget journal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#FAQs_Credit_Card_Using_Tips\" >FAQs: Credit Card Using Tips<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#How_to_properly_use_a_credit_card\" >How to properly use a credit card?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#How_can_I_use_a_credit_card_to_build_my_credit_score\" >How can I use a credit card to build my credit score?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#What_are_the_benefits_of_using_a_credit_card_instead_of_cash\" >What are the benefits of using a credit card instead of cash?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/#How_how_to_use_a_credit_card_without_falling_in_common_pitfalls\" >How how to use a credit card without falling in common pitfalls?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Your credit card offers 15% off apparel and accessories. The first time you meet it, it promises to be your friend\u2014until you look closely and realize it\u2019s not. You have been ripped off.<\/p>\n\n\n\n<p>The unstoppable scoffing running into your mind, \u201cShould have read the fine prints. Should\u2019ve known before getting into this\u201d. The hit on your CIBIL score and future salary will be scarier than opening the credit card\/ VISA bill.<\/p>\n\n\n\n<p>How to use a credit card without hitting my CIBIL score? LXME has a game-changer plan that can help you boost your CIBIL score and subsidise your wanderlust. Going the LXME way the reckon depression wouldn\u2019t exist anymore. Things you need to do to make credit cards, the magic cards:-<\/p>\n\n\n\n<p>1. Setting a reminder<\/p>\n\n\n\n<p>2. Maintaining a budget journal<\/p>\n\n\n\n<p>Credit Card Using Tips:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Setting_a_reminder\"><\/span>1. Setting a reminder<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Setting a reminder 7 days before the interest-free period expires. A week\u2019s window to make the payment. Otherwise, make an arrangement to make timely repayment since you\u2019ve been a little lazy this month to do budget journaling. This reminder works as an incredible tool to be debt-free and always pay off your balance on time and in full. Escape from the credit interest-paying cycle. Once you start paying interest while using a credit card, you negate all the rewards you have earned. Mastering the process will enhance your CIBIL score.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Maintaining_a_budget_journal\"><\/span>2. Maintaining a budget journal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The lower, the better\u2014Prepare a budget with an intention to use a smaller percentage of your available credit limit. The ideal number is to stay under 30% to 40%. This effectively helps you build the CIBIL score. The idea is to continue living the same lifestyle with ease. Compulsive spending and addictive shopping would make it unworthy.<\/p>\n\n\n\n<p>Cost &amp; worth are different \u2013 Yes, these two terms have a world of difference. While buying a particular product, pause and contemplate if the cost is actually worth it. Pen down your finances before settling with the thought of buying something extremely expensive. For instance, there is a flash sale at a home d\u00e9cor store today, and tomorrow is the deadline for the Sovereign gold bond issue. You wish to choose both. However, there\u2019s no disposable income left in your wallet. Here, investing in the bond issue is far from using credit money! The home decor can be planned rather than making an impulsive purchase.<br>Credit cards are significantly more protective than debit cards. A compromised debit card allows direct access to your savings account in a world where it is becoming easier and easier to blurt out information. With a credit card, the access is limited to your credit limit, and once flagged for fraud the bank takes care of the rest. Rewards, Cashbacks, and miles collection are the known perks of using a credit card; however, it is important to re-evaluate your credit cards every year. Credit cards are portrayed as cards for emergencies; instead of having an emergency fund, it is a smarter idea.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_Credit_Card_Using_Tips\"><\/span>FAQs: Credit Card Using Tips<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1719656273010\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"How_to_properly_use_a_credit_card\"><\/span>How to properly use a credit card?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Here are some credit card-using tips:<br \/>&#8211; Pay your balance in full each month to avoid interest charges.<br \/>&#8211; Monitor your spending to stay within your budget.<br \/>&#8211; Use your credit card for essential purchases and use rewards programs.<br \/>&#8211; Regularly check your statements for any unauthorised transactions.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1719656294444\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"How_can_I_use_a_credit_card_to_build_my_credit_score\"><\/span>How can I use a credit card to build my credit score?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Using a credit card responsibly can help build your credit score by:<br \/>&#8211; Making timely payments to show financial responsibility.<br \/>&#8211; Keeping your credit utilisation low; usually, it is said to keep it under 30%.\u00a0\u00a0<br \/>&#8211; Avoiding opening multiple new credit accounts in a short period.<br \/>&#8211; Maintaining a long credit history by keeping older accounts open and active.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1719656326716\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"What_are_the_benefits_of_using_a_credit_card_instead_of_cash\"><\/span>What are the benefits of using a credit card instead of cash?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Using a credit card offers several advantages:<br \/>&#8211; Convenience and security, as you don&#8217;t need to carry large amounts of cash.<br \/>&#8211; Rewards and cashback on purchases, which can save money over time.<br \/>&#8211; Protection against fraud and unauthorised charges.<br \/>&#8211; The ability to track and manage your expenses through detailed statements.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1719656348444\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"How_how_to_use_a_credit_card_without_falling_in_common_pitfalls\"><\/span>How how to use a credit card without falling in common pitfalls?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>To avoid common credit card pitfalls:<br \/>&#8211; Never spend more than you can afford to pay off each month.<br \/>&#8211; Be aware of interest rates and fees associated with your card.<br \/>&#8211; Avoid using credit cards for cash advances due to high fees and interest.<br \/>&#8211; Stay informed about your card&#8217;s terms and conditions to avoid penalties.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [{\n    \"@type\": \"Question\",\n    \"name\": \"How to properly use a credit card?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Here are some credit card-using tips:\n- Pay your balance in full each month to avoid interest charges.\n- Monitor your spending to stay within your budget.\n- Use your credit card for essential purchases and use rewards programs.\n- Regularly check your statements for any unauthorised transactions.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"How can I use a credit card to build my credit score?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Using a credit card responsibly can help build your credit score by:\n- Making timely payments to show financial responsibility.\n- Keeping your credit utilisation low; 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The first time you meet it, it promises to be your friend\u2014until you look closely and realize it\u2019s not. You have been ripped off. The unstoppable scoffing running into your mind, \u201cShould have read the fine prints. Should\u2019ve known before getting into this\u201d. The hit on <a href=\"https:\/\/lxme.in\/v1\/credit-cards-can-be-magic-cards-when-used-correctly\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Credit cards can be magic cards when used correctly!<\/span><\/a><\/p>\n","protected":false},"author":10,"featured_media":7165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[658,667],"tags":[44,45,46,30,10,47,34],"class_list":["post-2162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-card","category-money-hacks","tag-bills","tag-credit-card","tag-debt","tag-investing","tag-lxme","tag-overdue","tag-spending"],"acf":[],"_links":{"self":[{"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/posts\/2162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/comments?post=2162"}],"version-history":[{"count":5,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/posts\/2162\/revisions"}],"predecessor-version":[{"id":8643,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/posts\/2162\/revisions\/8643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/media\/7165"}],"wp:attachment":[{"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/media?parent=2162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/categories?post=2162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lxme.in\/v1\/wp-json\/wp\/v2\/tags?post=2162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}