How to Pay No Interest Rate On Credit Card’s Bill?

How to Pay No Interest  Rate On Credit Card’s Bill? Credit cards which now a widely used tool as plastic money by a reasonable number of people not only in Pakistan but all around the world.

Credit Card usage has its own Pros and Cons its a tricky mode of payment in which you can buy things or pay for stuff you want to purchase online and then pay later.

Credit card which is backed by “Visa or Master card” has a global acceptance because of which it used by many people who travel Internationally since it gives ease of not carrying to much cash.

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How Credit Card Payment process takes Place

Every month Credit Card payment bill is generated on which the due date is shown, A Customer must have to make payment before the due date to avoid late payment charges.

Now a Credit card user has two options to pay the bill.

1) Make minimum payment.

2) Make full payment.

Now there is a difference on both types of payment, lets see what it is .

1) Make minimum payment

A Credit Card Customer after generation of the bill for the desired month have the first option to either pay minimum payment which can a fixed percent e.g 5 percent or a particular amount set by the bank of the total credit card limit used.

Like if you have used 100 k limit so your minimum payment could be 5 k or 10 k , although this looks tempting since you cannot pay full amount however the next month bill could be seen more expensive since you will have to pay interest rate on the remaining amount of 90 k now.

2) Make full payment

Making full payment is a wise decision since a Customer will not be hit with any interest rate what so ever after making full payment before the due date of the Credit Card bill generated.

Tip to use Credit Card Wisely

In today era where we are attracted towards big discount’s offered by various bank’s tempting Customer’s to do over spending. One should keep any eye on his monthly income and then use Credit Card smartly to pay off the consumed amount timely before getting into too debt burden’s.

Since if you are unable to pay the desired bill amount timely then there is a chance a Customer disturbs his Clean credit history.

Credit history is a pattern of your payment behavior during the past. If your Credit Payment history is not clean then you might not be be able to apply for fresh loans of any type so it is very important to keep this factor of Clean Credit history in mind while being engaged in any loan commitment’s with the bank.

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