Credit card uses: The use of credit cards is increasing rapidly these days, but a small mistake in it can cause huge loss to you. Credit cards should be used very carefully. Of course, having a credit card has many advantages, but it also has many disadvantages. There are many hidden charges in credit cards, about which people are generally not aware. Today we are going to tell you about some places where people should avoid using credit cards even by mistake.
Petrol Pump- While filling diesel-petrol or CNG in the vehicle, we often make payment through credit card, whereas by doing so we are causing loss to ourselves. Service charge and GST are levied on credit card payments at petrol pumps, due to which the price of fuel increases further.
Apart from this, you can also become a victim of skimming. Skimming is a new way of scamming. In this, a small device can be hidden and installed in the card swipe POS machine or ATM of petrol pump or shops.
As soon as you swipe the card, this machine records your card details. On the basis of this, scammers make fake cards and withdraw money from your account and you do not even have a clue. The risk of skimming is higher in petrol pumps because the card swipe machines here are in the open. In such a situation, it sometimes becomes easy to tamper with it.
IRCTC website- One should not use credit card while booking tickets on IRCTC website because apart from the payment gateway fee, there is an extra charge of one or two percent on GST.
ATM- You should not use credit card at all for withdrawing cash from ATM because you may have to pay interest and advance fees.
Wallet- One should avoid using credit card to deposit money in Paytm, Phone Pay, Google Pay or Amazon Pay wallet because apart from convenience fee, GST also has to be paid.
Insurance- It is better not to use credit card even for paying insurance premium because you may have to pay an extra charge of 1-2 percent.
Unsecured website- Shopping from any website and paying with credit card is one of those financial mistakes that we often commit knowingly or unknowingly. Due to this, there remains a risk of scamming. On top of that, any charges are levied separately on the goods purchased, which makes no sense.
Balance Transfer- Even the mistake of transferring balance from one credit card to another can cause harm to us because while doing this you have to pay interest rate and processing fees, hence it is better not to do so.
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