It is difficult to get a credit card and more difficult to manage it. A credit card can be your friend in need or your biggest foe depending on your usage. You need to use your credit card wisely in order to make the most out of them. Hereunder are some of the tips that you can use to maximize the benefits of your ICICI Credit Card. Keep reading to kick start your research.
- Choose the right card: This is the first and foremost thing that you need to choose the right card in order to enjoy the features and benefits of your ICICI credit card. For this, you need to identify your needs and spending habits first and then apply for a credit card that compliments them the most. For example, if you have travel needs then you would require a travel credit card that helps you save on your travel expenses.
- Earn reward points: ICICI Bank offers a quite wide rewards program. You earn rewards in the form of ICICI Reward Points, cashbacks, Intermiles, or any other form of reward points. To earn reward points you need to first know your credit card’s reward program, on which transactions you earn reward points, and use your credit card for those transactions. This will help you to get the most out of your ICICI credit card.
- Redeem reward points: To maximize the benefits of your ICICI Credit Card, you need to redeem the reward points on time. Reward points come with an expiry date. You need to accumulate enough reward points to redeem them before they expire.
- Adhere to the timely repayment cycle: You need to adhere to the timely repayment of credit card bills in order to build a good standing account and good score as well. You can register for the auto-debit services so that you do not have to worry about remembering the due dates, moreover, ICICI Bank provides various channels to pay the bill on time.
- Maintain a low credit utilization ratio: It is advisable to maintain a low credit utilization ratio between 30% – 40% in order to maximize the benefits of a credit card. You can set a threshold limit on your ICICI credit card so that on reaching that limit you can stop using your credit card for making transactions. You will be notified through a message on your registered number and mail about the threshold limit.
- Review your credit card statements: To make the most out of your ICICI credit card you need to review your credit card statement from time to time so that on finding any error or omission you can immediately report it to the credit card issuer as these mistakes can harm your credibility.
To conclude, you can easily make the most out of your credit card by following these above tips. It is crucial to use a credit card wisely as it can make or break your credit score. If you have any questions comment below we will do our best to answer them all.
Additional Reading – How To Use Credit Card Reward Points?