I'm using CC from last 4 years. . Never paid late fees. Used within 30% of my credit limit. Saved a lot on online purchasing. Credit score 750+ CC is a helping hand if you fulfill your need only.
i dont know who but one of the billionaire said that he never used his money to do the purchases he always use credit cards that means bank money to do the purchases... his basic idea was why should you spent your money if someone is giving you to spent there money and the plus point is you can return the money without any interest.
exactly. always pay dues before time to ensure good cibil score. and don't overspend than you can pay. I have seen many youtubers against the use of credit cards... but its all about how you use it.
I only purchase items using credit card for which I have balance in my bank account. So at the end, I earn the reward points and benefits and pay the outstanding bill immediately and some times even before bill generation
Sorry to say ....i have 12 CC along with one slice card. No problem so far. Fire ,water, wind all these can hit badly our human life but if you know how to use it then these can help you to cook food, production of corps, production of electricity, and many more. So use CC wisely, it will help you surely.
I am using CC from last 21 years. Following my friend's advise and never missed any payment even though couple of time it has gone beyond 6 figure. No interest or penalty paid till date. I know they keep calling for personal loans. My friend told them - I use CC only for convenience ( no need to carry cash), if I need personal loan, I will approach my bank, not the CC company. Following same - use it only for convenience.
Then Sir For Loan(if Required ) you will get a Personal Loan with minimum 10.25 ROI , but in credit card the ROI is 14-15(REDUCING ROI) approx 8-9 % as Fixed Rate of Loan. Also if I have to close the loan Personal Loan can be closed after 12 months but in Credit Card Loan I can close it whenever I wish to. Also Forclosure Fee of Personal Loan is 5% + GST on an average for 90 percentage of banks but CC Loan if gets closed before tenure the foreclosure fee is maximum 3 % as per RBI Norms. Think before taking loan banks are not sitting there to give you money , they are sitting to give you their money to get your money.
I am using hdfc card with 2 lac limit from last 2.5 year but I never paid single rupee till now.. even I have earn rewards from it...this depends on our self control...
Using credit card since last 5years. Paid the dues on time. Utilised my savings money from account for investment. Now, I've developed a good portfolio of investments
In case of emergency nobody helps,where cc can help you.It's totally on your discipline.Yet you can convert your expenses in EMI.You will charge around 15%PA. It's Money power in today's world,which gives you Shanti.
ITs depend person to person - credit card is very beneficial for me , i got monthly 500 book my show movie coupen , for it i have to spend Rs 5000 every month by card . i used for petrol, mobile recharge , electricity bill , house grocery .
An advantage of Credit Card is that it is a very handy tool for use in case of international purchases because of its advanced security, or for use in some emergency situations like immediate hospital admission. However, one has to make sure that he/she can repay the transaction amount within the stipulated interest free time period. For everything else a debit card would be more than adequate.
If you have self control then its a boon... especially if you do a lot of online shopping. Now-a-days, we can buy all our household stuff online and at a discounted price when using a credit card. These discounts make using Credit Cards worthwhile. BUT, if you dont have self-control and start spending excessively on stuff you want but dont actually need or if you don't pay the bills on time then yep, you are in for a painfull expensive lesson. I, for one, have never missed my bill payments and have always payed them in full. With these additional Credit Card specific discounts I save around 15-20k every year. And all this is without even mentioning the benefit of No-Cost EMIs. Just a reminder, check the fees very carefully before applying for one.
Interesting take on things.. in my opinion a person with less self control can opt for reducing the credit limit on the card to up to 50% of the monthly income to ensure that payments can be made in full regularly without attracting interest. Also, the advantages mentioned seemed like disadvantages in disguise.
Read almost all comments mostly favouring use of CC. This video is not for people using CC wisely. This is for the people who don’t know these terms and conditions or rather unable to understand it. Most of the users have credit card because they got it on from agents who get huge commission selling it. Most of the time these agents give false information, they will never tell these terms and conditions mentioned in this video. Thanks to Mandeep, you are creating awareness. For those who is supporting use of CC, I guess you are either smart or a CC agent. This video is not for you.
Very good video, I liked it so much.. Such realistic info ❤️❤️ can't believe banks haven't paid Google to block this video.. 🤣🤣 Honestly very Good video.. 👏🏻👏🏻
Credit card is very usefull in emergency situations. I in travel industry make maximum use os credit card but But clear it before they charge you interest.
Hello Suraj here from SBI CARD Mei ek sales executive . kisiko bhi kuch jana ho kisi bhi credit card ke bare mai mujhe call kare 9892842478/6389692127 Also I have authority for issuing any bank (specially SBI) of credit card on salary card against card and ITR
@@surajdharmnathgaund3314 agar credit card ka bill due date de pahle (45 days)pay kiya gaya to interest Nahi padta qua? 2.online shopping ke credit card jyada safe hai ya dabit card?
@@satishsaraf589 pay your bill before due date and enjoy, don't even think about 45 - 50 days. It's safe online too. Only you could make it vulnerable.. be smart, play safe.
Mandeep, You said mostly correct. I own a Credit Card DSA and have been making Credit Card for many customers. What I have found out that there is a severe lack of correct information and education on this aspect. I educate my customers on this aspect but still not everyone does.
Be sincere in paying full amount without paying extra rupee to bank. Be disciplined and should use within the limit , no need to fear . It's a fantastic if you are a wiser user. Make full payment Everytime to avoid late fee and interest charges etc.
i can solve your Disadvantage bro one by one in 1-(u said about intrest charge is very high) I need to pay intrest if i cant pay my credit card bill within due date.Till than i can use money in terms of credit 2-(u said credit card downgrade my cibil score because of late payment) but if i pay my bill within due date than my cibil is increses. 3-(u talk about anual fee ) but it is wavier if i pay minimum amount of credit as well as it can be revert in terms of bonus 4-(u said about T & C in terms of intrest rate about "late payment" again) if i pay my bill within due date than there is no tension for any amount of intrest fee. 5-(u said about minimum payment) u should upgrade your knowledge.all credit card shows total outstanding first. 6-(u said about amont investment) i think u should know about the concept of credit card..obviously it is used for routine life 7-(u said about excess use of credit card) oh bro last disadvantage is depends on a person. so finally... u should change your title.. remove the word "DISADVANTAGE" & replace it with "IF U R NOT GOING TO PAY BY DUE DATE THAN" Thanks, have a great day.
@@safiurrehman1621 agar 45 din muft me paise use krne he to annual fees to bharna hi hoga na...aur rahi baat Hidden charges ki. To koi bhi card ki koi bhi T&C dekh lo me 6 saal che bahot card use kr liye. Ek bhi bar Hidden charge nai laga. Not a single time. 🙂
Mitesh Awasthi Bhai aap ko bata do ke koi bhi bank jab credit card ka offer karta hai to un ke #representative (call centre) #It sell wale bolte hai ki is card ki suvidha bilkul muft hai......
Aur rahi baat aap ki ! To mujhe aapka to nahi maloom ki aap ko hidden charges lage ki nahi. Mere pass aisi kai logo ki shikayat likhit mai aai hai!!! Ke bank ne #hidden charges lagaya hai
This is a very good and informative information in relation to credit cards. It depends on the person to person use. Marvelous and great information about credit cards.
Having more than 22 cards with over all limit of rupees 32 lacs. My monthly statement usually generated around 7 to 8 lac (intentionally) and I earn extra 7 to 12 thousand per month with rewards. Excluding bank offers. But han self control to nahi rahta hai. Par mai manage ache se kar leta hun.
Sir you really explained well about the pros and cons of credit card ... and yes cons could be dangerous if is not handle by care... But in todays time when you purchase something from a website like i purchases courses for study online so they usually accepts payment only through debit or credicard.. many websites... And i think credit card is more better then debit card because if you want to purchase a thing for which you have not the sufficient amount to pay then credit card could become handy .. Also it helps to maintain a sufficient balance in your account ... means if you use debit card then your bank balance will be reduce but when you use credit card your bank balance do not reduce only you become liable to pay .. i think you are able to get a prospective which i want to describe because i cannot describe every human prospect or nature by writing .... So it can be very useful when someone uses it for specific purpose only and also can easily pay after a specific period ... also is aware of terms and conditions for security ... so for a wise man .. a credit card is a good option .. Thus your video is wrong that credit card should be voidable.. they can be use efficiently if they are handle by care... and it should be okay to pay some small payment for card like you mention that they charge some money for issuing card aur etc.. so it is okay man they are giving you a loan and i you pay under min o 40 days then no intt is payable .. so it should be okay to pay small small amount which they charge as you mention other like paying of debt... Thank u 😂
Bhai yaha par account me 1000rupaye nahi hote account me after first week( excluding some money saved for emergency and some for daily basis need for upto next 30 days usage ) to to kya guarantee hai ki Mai regularly bhar paoonga paise agle mahine to mere liye debit card hi sahi hai
@@sonamdeshpande7281 exactly , just pay the entire bill before due date , and if u have a lifelong free credit card then customer always in benefit . only con is if u have a say 499 or 999 amc card then just buy using that card to set it off using reward point
We required more videos on this from youtubers to spread awareness.. yes credit card companies are trapping "less Knowledgeable" peoples but some ppls r using this too visely..
It is the human nature and economics behind which explains that human needs are never settled at any point, the moment people get Credit card it just blows their minds up and their salary too, of which the CC companies take advantage..😇
Discipline is required for using CC effectively. Using since 12 years 4 CC of diff banks, with a habit of paying every bill on 1st of Month. Hence good have similar billing cycle for all CCs.
You should keep billing cycle different so that you can pay all cards bill on different date. It will give you more time for each purchase. Like 1-7 one card 8-15 second 16-24 third and 25-31 fourth. So that your bill will be delayed
@@deepakpunam if you are using CC for loan purposes and delaying your payments, then you are aligned with Banks' objectives. Keeping cycle different will keep you on toes entire month to relent payments, mistakes bound to happen. Hence, I use them for their offers only and not for delaying payments.
I am new to credit card. Can you plz suggest me where can i utilize the 30% of my credit limit? I don’t want to mess up it like using it for withdrawal.. which is worst use, so plz suggest me best use so i can increase my credit score
Very informative video bro, I had made a mistake to sign credit card documents by SBI today but still I hadn't verified & submitted my details to bank ,but they had made me sign documents....So I m planning to abort credit card process today....Thanks for valuable info👍
Greatly explained this topic, but can you explain how to close certain credit card, because this procedure is really complicated for a user. As bank do not respond to our card closing request nor there is any customers support help for this procedure. What could be better option?
Bhai credit card se ek baar shoping karne k baad uska bill pay kar diya and next year usme se 1rs kharcha bhi nhi kiya to next year end me hame kitna payment karna hota hai
@@utkarsh_0410 but kya fayda usse annual fee ka or kyu du mein bank ko jabki mein timely pay kar raha hu paisa bank ko.. Annually calculate karo ge maintenance fee toh equal to jitna discount diya hai utha hi aa jayega..
@@himansbhad2078 Credit card is only useful if you have know expenses that you pay for. If you pay for online expenses, or don't shop often then credit card is not useful. So if your monthly expense come to around 20k, you can use credit card for that. And as long as you are making payment completely every month, then your CIBIL score also increases.
Best video ever on credit card....hats off to you man !! Just once the girl was watching from outside the window was where i got distracted but overall it was a fabulous presentation
Things I would like to know Why you wanted to delay your payment? Why you wanted a loan from credit card? Why you wanted to exceed your credit limit? Credit card can destroy you only if you are unable to manage your own money, if you are not earning money. I am using my cards since last 5 years and never made late payment, I and my family member purchase things during offers which give more benefit to me as you have seen 10% discount offer on Flipkart and amazon.
arey bhai kisne kaha ki credit card hone se wealth par asar padta hain. Mere paas 3 credit card hain, aur mujhe fayde par fayda hi ho raha hain. agar aap samay par payment karenge to koi problem nahi. No late fees, no intrest. Samay par paise dete jao aur reward points ekhte karte jao, jisse aap rewards paate jao.
Hello Suraj here from SBI CARD Mei ek sales executive . kisiko bhi kuch jana ho kisi bhi credit card ke bare mai mujhe call kare 9892842478/6389692127 Also I have authority for issuing any bank (specially SBI) of credit card on salary card against card and ITR
Waste video... I use credit card only how much I required, I use it same like debit card... I never delayed credit card payment, minimum payment... never paid late fees Credit card will charge yearly fees, but this can waved off by knowing the terms and conditions. Really waste of video.... I m using my credit card wisely since 6 years...
Information is right but why to delay the payment of credit card I am using credit card from 5 years and I never made the late payment and never paid fine and if you use any kind of service and you do not dp paywment on time there is always fine you are totally wrong credit card is very helpful if you use it wisely and do payment on time it is kind of friend which help you in every bad situation and if you do not have credit card you have to ask for money from someone else only you hoave to make payment on time and they provide 50 days to make payment you are fool providing wrong information to public.
At first you say information is right and in the end say contrary to it. The uploader took it too far to say or rather emphasize that it is highest interest loan.
100%agree with you And therefore in my whole life I never took, never entertain any credit card seller. Also I didn't allow many of my friends and relatives to take cr card. Main thing is that you develop the habit of Pauling more than you earn and ofcourse bank wants business, not doing charity
Yeah Supply of money creates demand. CC is an hypnotizing tool and one who understand this can hypnotize banks in reverse. Take out excell sheet and calculate your annual spendings and choose the best cc.
I have been using my credit card for past 10 years. Hardly knew how to redeem points but off late doing that. I make sure the day bill is received I make payment next day 100%. Never due to pay. Also not used beyond 30% of my limit.
I have been issued 11 Credit card in last 5 years. Paid timely all bills. Paid zero late fee. Earned lots of discount online and offline. Once earned 7000 discount on 40000 Laptop using Credit card. Have credit card but use wisely and pay timely.
I have 2 credit cards for last 4 years. Both are lifetime free with no annual charges. Always paid complete bill just a day before the due date. I am sure my credit card companies hate me 😉
