Today, like debit cards, people have also started using credit cards. There is often confusion in people's mind regarding credit card payment because the time of its payment affects your credit score. Therefore, a question comes in people's mind that is it okay to wait till the due date for credit card payment?
When should payment be made?
First of all, understand that it is important to make credit card payments on time. It does not matter whether you make the payment as soon as the settlement is generated or on the due date. Your credit score remains completely safe by doing this.
But yes, if you make late payment, it can spoil your credit history. This also spoils your credit score. Along with this, you should keep some other special things in mind while using credit card.
Pay the credit card bill in full, not just the minimum amount. Paying only the minimum amount can affect your credit score. Therefore, do not forget to pay the full amount.
Use only 30 percent of the limit
One should avoid using the full limit of the credit card i.e. 100 percent. It is said that you should use only 30 percent of the limit given in your credit card. By doing this you can also avoid excessive debt. Your credit score also improves.
Apart from credit card, you should always keep an emergency fund ready. So that it can face any kind of problem that may arise in future. Experts say that we should keep an emergency fund equal to our six months' expenses in our bank account.
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