In today's time, the use of credit cards has increased a lot. Not only in cities, but people have started using credit cards in villages as well. Let's know about such 3 transactions, which should never be done with a credit card (When You Should Not Use Credit Card), otherwise you can get into trouble.

In today's time, the use of credit card has increased a lot. Not only in cities, but people have started using credit cards in villages as well. Why not... The more transactions you do, the more reward points you will get and later with those reward points you get gifts, you can do shopping and also get cashback. Well, while using credit card, people often forget that in fact they are shopping by taking a loan, which they have to repay later and if there is even a small mistake, then you may have to suffer huge loss. Let us know about such 3 transactions, which should never be done with a credit card (When You Should Not Use Credit Card), otherwise you can get into trouble.

1- Never withdraw cash from ATM

While selling a credit card, neither the bank nor the agent tell this. Rather, they tell about withdrawing cash from a credit card as a special feature. However, they do not tell that the cash you withdraw will start charging heavy interest from the very first day. This interest can be 2.5 to 3.5 percent per month i.e. up to 30-42 percent per annum. Not only this, you also have to pay a flat transaction tax. Although you get a month's time to pay the bill of shopping done with a credit card. If you do not pay the bill by the due date, interest is charged on you. On the other hand, there is no time to pay the cash withdrawn from the ATM and interest starts accruing from the very first day.

2- International transactions will cost you heavily

One of the features of every credit card is that it can be used abroad as well. Many people are attracted to this feature of credit cards, but many people do not understand the story behind it. When you use a credit card abroad, you have to pay a transaction fee, which keeps increasing and decreasing. By the way, if you want to use a card instead of cash abroad, then you can use a prepaid card instead of a credit card.

3- Do not use the card too much for balance transfer

Many credit cards have a feature called balance transfer. Using this, you can pay the bill of one credit card with another credit card. It may sound very amazing that first you got 30-45 days to pay the shopping bill on one credit card and then you paid the first one with the second credit card, in this way you will get 2-3 months to pay the shopping bill.

Let us tell you here that balance transfer is not free, for that you have to pay a charge to the credit card company or the bank. There is another big disadvantage of this. Credit card is a kind of loan. In such a situation, if you pay the bill of one credit card with another, then it means that you are taking another loan to settle one loan. In an emergency, when you are very short of money, then there is no problem in transferring the balance, but do not make it a habit. Doing this too much will have a bad effect on your CIBIL score.