Want to Improve Credit Score? Avoid 6 Major Credit Card Mistakes

Want to Improve credit score?

6  Major Credit Card Mistakes Avoid During Lockdown

Credit Cards mistakes can be a shelter to customers, giving numerous points of interest and advantages. Since they’re such an excellent choice for money, they’re incredible on the off chance that you have to make buys when you end up after all other options have been exhausted. A few cards offer advantages like prizes, like money back or travel miles, while others give you some additional assurance for your buys.

On the off chance that you do your best and pay your parities off every month, you’ll never need to pay a dime in intrigue. Additionally, being an honest credit card client can help support your FICO score.

Be that as it may, similar to each other, part of individuals’ carries on with, how credit cards are utilized must be revisited during this lockdown period. Since individuals are likewise attempting to stay away from cash exchange amid this pandemic, credit card use has gotten somewhat famous.

Here are some credit card batches that you should abstain from during lockdown:

Loan Moratorium

In March, the Reserve Bank of India (RBI) reported a three-month ban on the reimbursement of all term credits due between 1 March 2020 and 31 May 2020. This ban is likewise appropriate to credit card bills. On the off chance that you decide on this ban on your credit card charges, you won’t be required to pay anything for the three-month time frame, and the bank won’t charge any late installment expense.

Nevertheless, before you settle on this, you have to comprehend that banks will keep on levy interest as a regular on the outstanding sum. If you make a new buy during this moratorium period, the premium will begin accumulating right away. This implies toward its finish, and you will wind up with a substantial bill that will be hard to pay. Along these lines, if you have the way to take care of your credit card bill, abstain from settling on the moratorium.


You may also like to read :- How to Overcome Addiction of Credit Cards


Ignoring Bill Payment

If you are one those individuals who haven’t been utilizing their card close to as much as they typically would, it may cause you to disregard bill payment. You may be enticed to overlook your bill since it may be a paltry sum. In any case, this is a severe mix-up that you have to keep away from no matter what.

Postponing credit card installment payment will just knock up your liabilities, as the card will continue collecting month to month interest at the pace of 3-4% of the outstanding levy, only as on new buys. Since the interest fee on your credit card bill can be very high, turning over the law for even a couple of months can cost you such a lot of cash. In this way, continue checking your credit card bill frequently during the lockdown and pay it on time.


Unnecessary Shopping

As the lockdown has backed off in a few urban areas the nation over, shops are reviving, and online business portals are beginning to deliver unimportant things also. In this circumstance, you are probably going to want to shop, and you may wind up buying something that you don’t require. This wild spending, utilizing credit cards will knock up your expenditure, and you will wind up with a huge bill to be paid.

Individuals are losing their positions and are confronting pay slices due to COVID-19, and god forbid if these transpire, you should plunge into your investment funds to take care of the bill, and this gouge your reserve funds. Recollect that any spontaneous spending can place a genuine gouge in your accounts. 

Ensure that you don’t become excited and abuse the credit card. Try not to utilize your card for extravagance things and attempt to just spend on fundamentals like clinical costs, service charges, insurance premiums, family unit necessities, and so forth.


Reward Point Expiry

While you probably won’t make enormous buys on your card of late, the gathering of points probably won’t be significant. In any case, on the off chance that you have amassed points, you have to know when they will lapse. Monitor your reward points, and guarantee shouldn’t expire. On the off chance that you have a rewards vault accession, make a point to utilize these points for fundamental costs, and set aside some cash.


Taking Cash Advances

Credit card organizations utilize strategies like sending checks via the post office, urging you to use them to take care of bills, or to get yourself something decent; however, they once in a while clarify that these checks are dealt with only like loans. 

Taking a loan is hazardous because you begin to accumulate interest promptly, dissimilar to standard credit card buys. Likewise, there’s regularly no grace period, and you’ll be charged an automatic expense that can run as high as 4% on the measure of the development. 

To compound an already painful situation, the credit card organization may not consider the loan to be paid off until you’ve zeroed out the equalization for your different buys. The best activity with these checks is to shred them when you get them, staying away from the allurement.


Late Payments

Try not to make late payments. Doing so will harm your FICO rating and will likewise bring about new payment charges for you. Your credit cards will probably have a customary due date each month—state, the fifteenth of every month—and it seldom stray.

 So it’s essential to know when your bill is expected. On the off chance that you experience difficulty recalling when your installment is planned, take a stab at including an update to your telephone or PC, or circumnavigating the dates on an effectively available schedule.



Tidying up credit card obligation requires some serious energy and discretion, yet the means laid out here aren’t hard to follow. Credit card generators can help with the assumed difficulties that credit card information carries, as well. In all, credit cards become a supportive and advantageous money related apparatuses once you defeat obligation, and figure out how to utilize them reasonably and capably. Staying away from these regular mix-ups can rightly put you.