• UID's Two Tier evaluation Result for Admissions 2024-25 is out! Check you registered email ID for further action or call 9266663225 for more information.
  • UID Admissions 2024-25 NRI/NRI Spons./ Management Category Application Window is open now! Click Here to apply- Call 9266663225 to know more.
  • UID Admissions 2024-25 General Category Application Window is open only for BFA/BFA (Hons.) Click Here to apply- Call 9266663225 to know more.
  • UIFM Admissions 2024-25 Application Window is open BSc./BSc.(Hons.) Filmmaking Click Here to apply
  • KUAT (Karnavati University Admission Test) Admissions 2024-25 Application Window Open Click Here to Apply- To know more call 9667048555. KUAT Examination Date-27th April,2024 (Saturday)
  • Ph.D. 2024-25 Admissions Open Now! (July 2024 Batch) Click Here to apply +91 9033001244
  • MBA 2024 Admissions open Click Here to Apply – call – 7574811135 / 7227035143.
  • B.Tech 2024 Admissions Open. Click Here to Apply- Call +91 7574811135
  • KU Admissions FEE Payment Click Here
  • Karnavati University invites applications for teaching positions Click here for details
  • Two-Day National Conference (Hybrid Mode) on Research and NEP, 2020: Current Trends and Future Prospects Register Now

Credit Cards – Best and Worst Finance Tool

  1. Home
  2. »
  3. One Minutes Read
  4. »
  5. Credit Cards – Best and Worst Finance Tool

Credit Cards – Best and Worst Finance Tool

Credit Cards – Best and Worst Finance Tool

Finance company NBFCs (co-branded card with some bank) or Banks offer credit cards to almost everyone. Companies want you to be associated with them in some way or the other. Companies offer 0% interest credit for almost 50 days (if used wisely) which is one of the strongest tools for an entrepreneur but on the other hand if due to any reasons, the customers miss paying before the due date then it impacts the customer negatively. It may force the customer to lose their hard-earned money. It is because of the interest they charge on the outstanding amount which varies from 36% to 48% pa. Due to heavy interest, it becomes very tough for the client to overcome this outstanding, though, finance companies like such customers more (because they are a revenue source for the company) than the customers who pay on time. In addition, in case of a missed payment, their collection department starts making calls multiple times every day which may hamper the peace of mind & the daily schedule of the customer.

So, my advice to all the young earners is: Take as many credit cards as you want but use this finance tool for your benefit & pay the full outstanding before the due date. Use credit cards wisely.

Author:
Vikas Chandra Sharma, Assistant Professor, Unitedworld School of Business (UWSB)

Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.

Recent Post

Two-wheeler – Ergonomics in India

A two-wheeler is the vehicle of choice for most Indians in their daily commute to work. One major reason for

Dadi Pudumjee- An Indian Puppeteer

Puppets are one of the best ways to tell a story. They not only reach adults but also to kids.

Smart Investments in a Small Budget – Duplicate – [#5313]

There is a misconception that you need a large sum of money to make an investment.  There are certain smart

1 2 3

Announcement

  • UID’s Two Tier evaluation Result for Admissions 2024-25 is out! Check you registered email ID for further action or call : +91 9266663225 for more information.
  • UID Admissions 2024-25 NRI/NRI Spons./ Management Category Application Window is open now! Click Here to apply- Call 9266663225 to know more.
  • UID Admissions 2024-25 General Category Application Window is open only for BFA/BFA (Hons.) Click Here to apply- Call 9266663225 to know more.
  • UIFM Admissions 2024-25 Application Window is open BSc./BSc.(Hons.) Filmmaking Click Here to apply
  • KUAT (Karnavati University Admission Test) Admissions 2024-25 Application Window Open Click Here to Apply- To know more call 9667048555. KUAT Examination Date-27th April,2024 (Saturday)
  • Ph.D. 2024-25 Admissions Open Now! (July 2024 Batch) Click Here to apply +91 9033001244
  • MBA 2024 Admissions open Click Here to Apply – call – 7574811135 / 7227035143.
  • B.Tech 2024 Admissions Open. Click Here to Apply- Call +91 7574811135
  • Karnavati University invites applications for teaching positions Click here for details
  • UWSL International Moot Court Competition, 2024 Register Now
  • Two-Day National Conference (Hybrid Mode) on Research and NEP, 2020: Current Trends and Future Prospects Register Now
  • KU Admissions FEE Payment Click Here