Pay the credit card bill in grace period

The next tip to use credit card effectively is to pay the credit card balances in full within the interest free period. Interest-free period, is the time between the date of the credit card transaction and the due date of payment for the billing period. Usually 20 to 60 days is the grace period.

During this period, no interest will be charged on credit card transactions if the outstanding balance is paid in full. Also pay attention to the EMI of your credit card. If you are unable to pay your credit card bill, you can convert your credit card payment into a monthly EMI.

EMI credit cards work like mortgages or personal loans. You can liquidate your balance by paying a fixed amount of principal and interest every month. This can be an easy way to carry out your duties without too much pressure.

In the guide to How to use credit card smartly, this is an effective practice.