Comments on: Silly ways to use credit cards http://www.onemint.com/2010/01/22/silly-ways-to-use-credit-cards/ Helps You Make Better Financial Decisions Sat, 11 Feb 2012 17:32:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: How to make money with Credit Cards ! — The Financial Literates http://www.onemint.com/2010/01/22/silly-ways-to-use-credit-cards/comment-page-1/#comment-182808 How to make money with Credit Cards ! — The Financial Literates Sat, 29 Oct 2011 04:25:59 +0000 http://www.onemint.com/?p=3336#comment-182808 [...] Therefore, if I buy, say an iPhone for, Rs.30,000 on October 1 using my credit card, my credit statement would be generated by the end of the month. So, this 30K bucks stays in my account, until I make the payment at the end of the month. At say 4% interest rate, this works out to close to Rs.100/- per month (@4%, each Rs.10, 000 earns an interest of Rs.1.01 EACH DAY!!!) So, that’s extra money as interest from your purchase!! Note: Before swiping, make sure the vendor doesn’t charge any service charges; most don’t; but it’s always safer to confirm. While using for fuel, go for banks which have tie-up with your credit card company so that you don’t have to pay surcharges. Also Read: Must have features in Credit Card Silly ways to use Credit Cards [...] [...] Therefore, if I buy, say an iPhone for, Rs.30,000 on October 1 using my credit card, my credit statement would be generated by the end of the month. So, this 30K bucks stays in my account, until I make the payment at the end of the month. At say 4% interest rate, this works out to close to Rs.100/- per month (@4%, each Rs.10, 000 earns an interest of Rs.1.01 EACH DAY!!!) So, that’s extra money as interest from your purchase!! Note: Before swiping, make sure the vendor doesn’t charge any service charges; most don’t; but it’s always safer to confirm. While using for fuel, go for banks which have tie-up with your credit card company so that you don’t have to pay surcharges. Also Read: Must have features in Credit Card Silly ways to use Credit Cards [...]

]]> By: Tony http://www.onemint.com/2010/01/22/silly-ways-to-use-credit-cards/comment-page-1/#comment-53499 Tony Sat, 30 Jan 2010 16:16:50 +0000 http://www.onemint.com/?p=3336#comment-53499 Agree that it's too easy to take advantage of balance transfer and 0% offers to clear debts, only to start the cycle again, unless you really can clear the balance before the 0% offer ends. Agree that it’s too easy to take advantage of balance transfer and 0% offers to clear debts, only to start the cycle again, unless you really can clear the balance before the 0% offer ends.

]]> By: BRS http://www.onemint.com/2010/01/22/silly-ways-to-use-credit-cards/comment-page-1/#comment-52518 BRS Fri, 22 Jan 2010 10:43:48 +0000 http://www.onemint.com/?p=3336#comment-52518 Useful information. Agree with everything here, except the autopay feature. Most credit cards promise "lifetime free", but many charge annual fee after 1 or 2 years. It may be cumbersome to take it back once is is "auto-paid". Personally, I check the monthly credit card bill and use NEFT to make the payment. Also, I don't wait necessarily for the bill to make the payment. Useful information. Agree with everything here, except the autopay feature. Most credit cards promise “lifetime free”, but many charge annual fee after 1 or 2 years. It may be cumbersome to take it back once is is “auto-paid”.

Personally, I check the monthly credit card bill and use NEFT to make the payment. Also, I don’t wait necessarily for the bill to make the payment.

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