Credit card: Nowadays most people use credit cards. The biggest reason for this is the benefits of credit cards. Payment through credit card gives many benefits. It contains many benefits like discount offer, reward point, but sometimes people forget when using credit cards that there is a kind of debt. In such a situation, the use of credit card is as beneficial, the more it can be harmful.
How right to pay credit card bill minimum
After using a credit card, the user has to pay a credit card bill after a certain time. When it comes to filling the credit card bill, some people pay only minimum bill instead of filling the entire bill. Usually the minimum payment of the credit card bill is 5 percent of the entire bill. By filling the minimum of the bill, you can avoid the penalty imposed on not paying the bill. Apart from this, if you do not have money, then you can avoid the penalty on you by making minimum payment.
Many disadvantages of Credit Card Minimum Filling
If you do not have money, then it can be beneficial for you to fill the minimum dew, but filling the minimum dew is also very harmful for you. By filling the minimum dew, you have to give monthly extra interest on the remaining credit card bill, which is 3 to 4 percent. Apart from this, it affects your credit score. You can get caught in a debt trap by filling the minimum du. In the future your cred