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Secrets to Get Out of Credit Card Debt

 

Credit cards come with lot of benefits and risks. If you do everything right, you can get benefited with free flight tickets, vouchers and various other lucrative offers. They build your credit score and make you credit worthy in the market. But if you miss your payment by mistake, you are levied with extra charges (which could have paid your 15 days bill at least)! Handling credit cards is an art and this post talks about amazing credit card secrets which every card holder should know!

Secrets to get out of Credit Card Debt

You can get fee waived for lower interest rate if you ask: If you are one of those credit card users who accidentally missed the deadline by one day then you deserve a chance to be spared. Credit cards have an automated mechanism and if the payment is not credited until due date then they charge you late payment fee along with interest and taxes. If you missed it once in a blue moon (which banks can also verify at their end) then you can ask for waiver or decrease in interest rate. All you need to do is to call their helpdesk and explain the genuinity of delay! 

You can upgrade your card: When you apply for the credit card for the first time (which means you don’t have any credit history), the issuers provide the base credit card which is low on offers and free on membership! But after you start using it, do you know you are eligible for upgrade in a meter of 6 months? Your bank might not tell you (because they are busy with other things, lets give them a benefit of doubt) as they are benefitted by offering you a card which is low on benefits! But you can visit the online portal and apply for the upgraded version at no extra cost!

You can discontinue your credit card after sign up bonus: Most of the users assume that they are obligated to keep the credit card because they were rewarded with sign-up bonus! This is a myth! No condition states that you are obligated to keep your credit card for certain period! You can close the account after you have received your sign-up bonus, coupons etc. if you are doubtful, don’t hesitate to ask the credit card issuer company!

Credit card is gateway to free travel: there are few premium cards which are reserved only for those with best credit scores. These cards are loaded with travel offers as they provide you with regular bonuses in terms of miles on your spends which you can use to book flight tickets. Have you heard of Jet Privileges card from HDFC? They provide you free lounge access internationally and free tickets every year! Isn’t that amazing?

Bonus tip: As a credit card holder, we often are hesitant and shy in asking the issuer to waive off the fees or cancel the credit card! This approach is not beneficial, and you should rather come out as a strong and independent fellow justifying your ask. Visit SolidGroundFinancial.Org for more tips!