Making Best Use of Credit Card?

Studies | English and Chinese scripts are provided below and you can understand the content easier.

Top 5 things how we can make best use of credit card

5. Make full use of the loyalty program

Banks frequently offer promotions to attract credit card application and boost the usage of card spending from customers. We should perform research and understand the rewards that best suit ourselves before applying for credit cards.

If we can consolidate the usage of credit cards within one or two banks, we can easily get more benefits e.g., reward points, cashback or extra discounts from merchants. We may be able to get double points for gifts redemption and cash rebate based on the purchased amounts.

With the adoption of new technology, using mobile wallet is getting popular. In addition to its convenience, we can easily check the latest entitled rewards e.g., e-coupons, discounts or cashback offered by merchants. As smart consumers, we’ll not miss the offers.

Starting from today, we should limit ourselves to using one or two credit cards. In addition to the more benefits from the banks, we can have better management of the accounts and lower the risk of credit card scams.

4. Think twice before making purchase or borrowing money

We should spend only when we can afford it. We should not be attracted by different repayment methods offered by the banks because they ultimately earn our handling fee for late payment.

Impulse purchase may lead to your overspending. As smart consumers, we should buy products or services with planning rather than losing self-control.

For example, “Buy Now, Pay Later” is a tempting offer. We can get the goods first and pay the remaining amounts in several periods later. However, we may not be aware of the underlying interest rate for late payment.

Cash advance also charges us a high interest rate. Once we withdraw money from automatic teller machine (ATM), interest fee is counted starting from the same day.

It basically involves borrowing money from the banks with relatively high interest rate as compared with personal loan.

Starting from today, we should avoid overspending from purchase as well as making cash advance. Consequently, it can reduce the unnecessary expenditure of interest fee.

3. Keep track of credit card balance regularly

We should keep monitoring of our card balance in a regular basis. Due to the increasing credit card scams, we should be alert to suspicious transactions performed by thieves via online. If we are not clear of our financial situation, it’s easier for us to fall victim to fraud.

Staying alert to our balance is related to the part of our wealth management. It’s so convenient for us to check the balance by logging into online or mobile banking nowadays.

We should settle our payment on time and avoid unnecessary debt due to the absent-minded reason. It may create troublesome when holding more than five credit cards.

The reason of logging into internet banking regularly is to check if there are any credit card transactions that are not performed by us. Some banks may send emails or messages notifying us when card spending transactions are made. We should always be alert to such notifications.

Starting from today, we should log into internet banking and check the outstanding balance regularly. If we find any abnormal transactions, we should contact our banks for investigation.

2. Avoid sharing sensitive information to third parties

We should avoid disclosing our sensitive information to third parties. Information includes personal information and 3-digit number at the back of our credit card.

With the growth of credit card scams, our credit card information is as important as our personal information. Scammers can steal our information to make purchase online on behalf of us.

To protect ourselves from falling into fraudulent activities, we should beware of the issue and keep the information securely.

During making credit card payments via some online portals, we should try to select those platforms with more secure authorisation approach such as two-factor authentication.

It means that credit card transaction can only be completed with our additional information provided e.g., one-time password sent out from the credit card company. The thieves cannot steal this additional information easily to complete the purchase of goods.

Starting from today, we should not share the sensitive information to third parties.

1. Make full payment on time

The interest rate is rather high if we do not make payment before payment due date. We should also not repay minimum balance only because the outstanding balance will be charged with the high interest rate.

As different banks may have different due date, we should be especially cautious when holding more than one credit card. If we hold more than three credit cards, we must mark the due date of each bank clearly, set alerts at your mobile phone or set the payment instructions automatically.

If we cannot manage the payment period well, interest fee will accumulate. As time goes by, we’ll find it difficult to pay off the debt.

When the payment history is not under a healthy condition, it will affect the credit score. If we apply for mortgage or personal loan in the future, we’ll not get the best interest rate as a consequence.

Starting from today, we should make full payment rather than minimum balance. Delayed payment should be avoided for reducing unnecessary interest fee.



5. 充分使用忠誠度計劃





4. 購買或借錢之前請三思







3. 定期追踪信用卡餘額






2. 避免與第三方分享敏感資料

我們應避免向第三方披露我們的敏感資料,資料包括個人資料和信用卡背面的 3 位數字。













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