3 Things Not to do with Credit Card
Вставка
- Опубліковано 9 лис 2021
- COURSES: labourlawadvisor.in/link/LPTI
.....................................................
DEMAT ACCOUNT: link.labourlawadvisor.in/demat
.....................................................
QuickPayroll: quickpayroll.in/
.....................................................
Explained in 1 Minute
3 things not to do with Credit Card
.....................................................
Newsletter: labourlawadvisor.in/newsletter/
Instagram: / labourlawadvisor
Twitter: / advisorlaborlaw
Telegram: @JoinLLA
.....................................................
#LLA #CreditCard #LLAShorts 76
Important Link: link.labourlawadvisor.in/shorts
COURSES: labourlawadvisor.in/link/LPTI
DEMAT ACCOUNT: link.labourlawadvisor.in/demat
QuickPayroll: quickpayroll.in/
Most idiotic thing
How do you know most of thing can you tell me sir how to find any data about any topic authentically??
Dhani fredam card ❤❤
YOU ARE WRONG about the first one if you have credit high usage >80% and pay in full before due date, your score will drop for some time, But the Credit card algorithm will kick in and you will be alloted a higer credit limit after a few months, Which will futher help in reducing the percent of your spend limit , i own 16 cards and this has happened to me on numerous cards
If I am only first time paying dhani one freedom card registration fee but I am not utilising this but company is calling u have a penalty is going to increase
Me watching carefully having no credit card
Same
Le bhai mat bhai warna zindagi bhar pachtayega
@@muhammadimranahme sahi kahe
@@leyvithanTech kya matlab ?
@@TheHonoredOne484 matlab ye ki agar kahi payment karne delay kiye ya phir minimum balance pay kiye toh itna interest lagega ki zitna liye nhi the usse zada dena padega aur agar pay nhi kiye toh tumhare ghar aake pareshaan karenge aur Colony me baizatti hogi so alag
Credit card use karna h toh debit card ki tarah use kro
Me watching ths after withdrawing 5000rs from credit card
😭😭😭😭
Which bank gave you card?
I did
Laude lag gaye
@@Dr-qs4oi my parents
U missed the most imp point… never use your credit card at any currency exchange for any transactions. If you do, it is considered same as cash withdrawals
No, Only you need to pay markup fees+GST on your transaction amount.
is it same as international merchant transactions
@@a.yashwanth I don't think so
No bro u r wrong
International transactions both credit card & debit card transactions are same in terms of charges... Btw which bank account are you using 😅😅😅😅
Number 4: never buy gold from credit card....EMI nhi banti
Right aysa mere sath ho gaya hai
Usse Accha Hai Jewelry Shop Se EMI Banwalo Agar Jaan Pehchan Ka Hai To
Cashback toh banata hoga na ?
gold buy karke direct pay Kar saktha na
10% Discount Milta Hai
Using credit card since 1 year and already following it strictly
Suggestion for point 1: pay 40-15=25k before reporting date. Enjoy 30% ratio 🙂
Plz. Explained it I don't know???
Does this work I'm planning to do this... But not sure if this works or still the credit utilization remains high only.... Did you try this and still increased your cibil score?
@@lifeguru111 so basically what he trying to say is tht pay 15 k out of 40k before the billing date which will reduce your credit utilisation….
Smart...ok one of the advice😏
Mr. X3 . Nice advice. Thanks for sharing. It means we should pay 25k before the bill generates. and only 15 k will be in bill and you can increase your cibil.
Partially wrong information. If credit card's 100% limit is used but payed before bill generationn date it won't be counted as 100% credit utilization. Credit utilization is counted after the generation of bill statement.
Example: Total Limit 1 Lakh, Total Spend 70K, Early Pay 50K. Now bill generated with due amount 20K so the credit utilazation will be counted as 20% only. This will be reported to credit bureau. So its okay to use maximum limit only if you can pay early atleast 70% of the amount.
Hey a couple of doubts. 1) If i can should i pay all the outstanding bills before the billing cycle ends or let there be atleast 20 percent to show credit utilization 2) If i have a card with limit of 20k and i use 8k but pay the outstanding and then can i use it more ( aroung 10K ) keeping it in mind i will pay before the date or it will impact my total utilization even though i payed and limit is back to 100 percent
@@yashkharbanda6145 1. You can pay early your entire amount but keep a check on your credit bureau points you may have to keep bare minimum credit utilization % to enhance your score. You need to find your perfect balance.
2. You are good to use more than a credit limit as long as you pay early. They only check outstanding balance during the billing date. Example: Your card limit is 20k. You utilized 8k then payed off early. Again utilized 15k payed off early. At the billing date you had no outstanding amount. The bill will be generated as 0 due amount with the credit utilization 0.
Bank classify such customers as transact users. Means who manages their finances responsibly by paying early or total due amount without any interest with low credit utilization score.
Exactly. Bhai sab Gyan Dene aa jaate hain. Yese lagta hai jaise yehi ek hi pura credit card ka homework karke aaya hai
@@yashkharbanda6145 it would be beneficial for your cibil score if some amount is generated after billing cycle
Where are the rules about this 3
I just closed all my credit cards, there is no secure way of using credit cards 😁. If you don't have money in your account why are you spending 😂
I spend using credit card even after having money. There are many positive side of credit card as well
@@stocker4321 true. Spending on credit card gives more cash back value than debit cards, gives more touch points where cash back is not available, use the credit period to invest your funds and generate revenue, credit cards govecaccess to discounts, membership, complimentary valet parking, complimentary airport lounges and many other benefits.
Spend credit card money only if you have a regular income flow. There are many benefits to it if you use it wisely.
I use credit card every time even if i have money.. i use crd and then hand2hand paymnt done for crd …. With this i got rewards cashbacks and last but not least i dont spent extra money buy that..
Put all the rewards and cashbacks aside someone please explain me the GST charges they take on credit card no cost emi... Honestly I've never seen this before but I have a RBL bank credit card and they charge me interest on a no cost emi product and also charges GST over interest. I am so frustrated.
Logically where value of paper money becomes zero, credit card value starts.
Even kohinoor diamond value is zero in front of piece of bread.
As an engineer with 0 knowledge of finance, I'm suffering from migraine after reading your comment
@@Akarsh- 🤣🤣🤣🤣
@@Akarsh- same 😂
Explain please.
Points accumulated on credit card is for the local unit place and local product depending on sale marketing internationally. Hence phase value is face value which is instantaneously marketed with credit points of diamond forever.
This is what I call Informative Video in short amount of time.
Bhai jindgi pahle itni complicate he ise credit card leke or muskil na bnao Khao piyo mje me rho 😀😀itni tention kon palega 👊👊👊
Mere pass bohot call aate he me mana kar deta hu
सही बात है भाई
These are life advices, actually. Thanks Labour Law Advisor ! 👏
This time it's a nice video on credit cards. However, a small correction in point no.3. If you pay the minimum amount only, you will be charged on the interest on the entire amount and not the balance amount.
Bro mere Card me mene 2k use kiye to ab unko me kab Pay kar sakta hu? Kya Turant ho sakta hai ya Month ki 11 date pe bill likha tha to tab ??
It’s my first time so can you tell me 😊
@@strangerisOPboy You can pay the amount anytime and in any no. of installments. You can pay 1k and then 500 twice as long as you pay it before the due date. Ideally try to pay 2 days before the due date to avoid any online payment errors.
@@strangerisOPboy before 11 date.... Any how
To withdraw the cash from credit card ,you can do a little trick you can recharge your prepaid card with your credit card and withdraw from that card
Card companies have realised that now. Now they charge some amount if you add funds in any wallet (eg PayTM) to withdraw or something. Still, that is less as compared to withdrawing cash through CC
Idk much about it but I have seen few ad posters where they claimed to withdraw cash from credit card in exchange of a certain percentage of fees. Are they true?
Send it to your friend and ask him to withdraw next day
I learnt new thing today from your shorts it was the 1st point about CIBIL. Thank you LLA! 🙏🏻🇮🇳
Recently got my first credit card, will keep this in mind, thanks!
Is limit for individual cards counted or as a whole in case of multiple cards?
No individual card bro...
30 % each for individual.
10% for overall
The 30% thing is difficult to comprehend. If your utilisation is high let's say for a few months in a row but you have paid in full each and every time. The score does not get impacted a lot.
@@bhavyashah6304 nope, it does
@@bhavyashah6304 exactly!! I use my credit card upto 80% since month 1 and it never really impacted my credit score. Infact 100% timely payments actually boosted my cibil and now I stand at 780 CIBIL
Number 4 Never pay the minimum amount due or outstanding with some other credit card
Most important tip - never ever buy credit card 😂
It depends on how you manage money. With a credit card, you can build a good cibil score which will help you while applying for any loan.
Credit card is not a thing which can be bought.
@@mohammedrafi6663 whats a cibil score?
@@akritirana6622 Cibil score is something to measure your credit history, if you have taken money in credit like a loan or credit card, it'll show how you have paid it back, if pay EMI on time then you'll have good record of paying money back hence good cibil score. Good cibil score means can get a good amount of loan in the future if required.
Best tip 😁😁😉
Bhut achi jankari di apne. credit card use hi mat karo. No use no intrest no tension.
No.4- kabhi credit card nhi Lena hai
Proper utilization of #shorts 👌
I've been utilizing more than 30%, but my credit score never dipped 🤔 I have a credit score of 818-850...
That also depends on what kind of payments u are making. I mean to say the commodities u purchase and bills you pay cause everything has its own tax
True, same here
I always use more than 80% of my credit card, but my score never dipped. 😂😂
@@kaushikgupta9322 let’s say your credit limit is 1000 you can spend 700 in 1 day but as long as you pay it off to where you only owe 300 at the end of the cycle that’s the utilization
Maybe they'll charge only for iostv
credit card utilization ka more-detail video banado bhai
mainly for,
how it works on no cost /regular emi
does utilization ratio apply on across all cards or per card
is it standard for all credit cards etc.
I watch this video just after withdrawing cash from my CC. I waited for my CC statement and hell thank you to labor law advisor for warning which pushed me to check my statement details, just to find out that I paid 12.5% Interest on that cash withdrawal of ₹4000.
Yes you read that right. CC charges 2.5% Interest or 500 whichever is higher. Read that clearly, if you withdraw 20k cash they will charge ₹500 which is 2.5% Interest. But if you withdraw below 20k. The interest rates increases massively - if you spend ₹4000 so 2.5% would be ₹100 but you will be charge ₹500 which is 12.5% interest because rule says CC charges 2.5% Interest or 500 whichever is higher on cash withdraw.
I request labor law advisor to make a short video on this. To make people understand the magical calculation. I pledge not to withdraw a single penny in form of cash using CC.
Sabse achha ye hai ki ,, credit card hee mat Lena.. chahe bank waaley miss world ko hii sales girl bana de🤘😁
4. Dont use credit card at petrol pump
5. Dont add money in wallet from credit card
Y?
@@dihab2812 1. There are extra charges for credit card payment on petrol pump.
2. You will feel you have money, but you dont actually have.
Petrol pump me use ni kiya toh fiir kya fyada
Surcharge lgta h
Maine toh bhai bharat petroleum sbi credit card lia specialy for petrol pump
Credit card ko Debit card ke tarah use karo har transaction ke badh card me paise bhej do 😂😂
😂
Sahi hai.
Mai bhi yahi karta hu
MATLAB credit card mat lo 🤣🤣🤣🤣
open your secondary account in same bank and put limited amount of money as much u want
just like a student studying in other cities / State their parents put limited amount of money in students bank account as much they actually need it 👍
Exactly ... Yahi best way hai to fulfill your needs nahi to truly speaking Credit Cards Bane hi logo ka khoon choosne ke liye hai ... Credit card agents kabhi full information ke saath card issue nahi karte aur jo bichaare peheli baar credit cards use karte hai unko itne rules pata ni hote aur galtiya kar dete hai aur banks iska faayeda uthaate hai ..... Kyuki banks ko achhe se pata hai mostly log time se bill pay nahi karte hai due to high interest of banks ... Aur jiska interest banks khaate hai free baithe bithaaye .... Aur honestly banks vaalo ko mostly income credit cards se hi hoti hai .... Isliye starting me ye log poore brahmand ka zor lagaa dete hai aapko card issue karne ke liye .... uske baad ye aapko completely choos lenge .... Apni rules & regulations ke naam par ...
Credit card is a TRAP
Exactly.
Ekdam
@@Veer.Bhadra Yes! Bank forced me many times but i didn't go for it.😉
Same bruh but i don't have to care for anything due to my father's profession
occasionally having credit utilisation ratio of even 80-90% is fine if you are paying it back. My credit score dropped by 60 points and recovered back up by 60 points in next month and bank increased my credit limit
Isse acha ek premium debit card lelo, credit card se similar offers milenge aur credit card ka loop holes se chutkari bhi milegi.
Bhai bank ko पता hai ki 80% log condition ka sahi se palan nahi kar payenge aur aise log he to chahiye
Still I don't believe in Credit Utilization impact on Credit Score.
Mine is High but I never face Negative impact on my Credit Score.
Your do not believe but bank is working his own terms....
@@lifeguru111 More then 3 years still I haven't face this type of issue.
Yes it got decreased but not because of utilization but because of inquiry.
I sometimes end up using my entire CC limit and repay a day/two before the deadline, but never missed out on repayments, yet my credit score is low (checked on CRED occasionally)...
Although the app says it won't charge me for checking score or doesn't impact on my "actual" credit score generated by banks..
I wonder why my cibil score fell from 800+ to 652 :(
You're correct sanket, i also use more than 80% limit, but my score never got dipped. 😂
@@kaushikgupta9322 haa ye sab moh maya he.
Useful info!!
Just wanted to drop by and say thanks. I bought a credit card with the whole purpose of having and getting a good CIBIL score. I wasn't aware of the first point you mentioned. With this I am more informed and at a better position to make decisions related to my credit purchases. So thanks for that once again.❤❤❤
Shaandar Jankari 💥💥
Credit card companies report your credit utilisation on statement generation date of credit card, if you pay your utilisation amount
Before Statement generation date, your credit card utilisation ratio will be low in credit score.
Is it true bro?
@@vijayrajoria3332 yes
Yes it's true
thanks for information 🙂
Well said bro,thanks
The biggest mistake people make is to revolve the credit from credit card
Moral of the story: "CREDIT CARDS ARE USELESS"
No, Moral is using credit card with our sense & paying capacity of bills in full on or b4 due date😊
No
Online shopping is laughing in the corner
@@YourBoss-qn9kz let them laugh
Extremely useful video 👍.
Great work thanks for sharing this
भैया ये 3rd वाली tragedy हमारे साथ हुई है...40k का bill pay करना पड़ा है हमे अभी
Cash nikalna h toh bass Paytm wallet bharwa lo credit card se n transfer to bank account phir cash nikal lo😌
Me Watching this Video very Carefully though I don't have any bank Credit Cards 😂😂😂
Agree with last 2 points. First point impacts people having low civil card. I many time max out my card.
Don't go for credit card unless you have higher purchasing habit with ability to pay for it.
My dad fell prey to point 3 and we paid excess fees to Credit Cards, lost a lot of money because of it. They used to loot customers back then.
But now there is awareness about this trap of minimum payment.
What is that minimum payment?
Please number 3 ko samjha dijie. Samaj Nehi aya
@@sandipsamanta3126
Bill meh total due aur minimum due aatha hai.
Usme minimum due pay kia toh aapko baaki amount pe interest dena padega with gst on interest.
Aap total due ko pay kar dethe toh kuch bhi interest aur gst charge dena nahi padega.
Woh minimum amount due sirf name se achcha Lagtha hai. Lekin woh interest pay karne ke liye bank walo ne rakha hue trap hai
I have already thrown my credit card 😂
Very useful, most people make these mistakes.
I m unaware from these facts,Very useful information👍👍
Thank you sir 😊😊
Acha 💀
Meanwhile Credit Cards wale: Chillah Chillah ke sabko scheme bata diya
These Gems you're creating through shorts LLA♥️
♥️♥️♥️Thankyou sir
Thanks a lot from the bottom of my heart for this knowledge ❤️
Legends don't own credit card, they remember the name of their friends who have it .🤣🤣🤣
🤣🤣 😎😎
Can you make this in english?
Bahut shukriya batane ke liye 😮
Helpful. Thank you
You forget the most important point : Never use a credit card in the first place.
Credit card is a deathtrap.
Credit Card is death trap for those who don't know how to use them.
Credit card is best thing for people who payback money on monthly basis.
@@RaviTejaParuchuri if u pay money on time then what's the fucking use of it ? Use your debit card and be safe from deathtrap of huge interest.
Sir, can u give me one favour by given answer,
I have question about the tax.
If I expend 2 lakh per year in stock okk, so if I buy every year stock of 2 lakh for 5 years so have i to pay Income tax, which is 10 lakh from starting year by year..???
You pay tax on your profits, not on your expense (Stock Buying)
Idfc bank credit card doesn't cost any interest on cash withdrawal.
They charge transaction fee only
If you use more than 30% of your credit balance, dont worry. Repay the amount which is more than 30% before end of the current month before bill day. This way you can still maintain good credit score.
Konsa credit card sahi hai? Jo lifetime free ho and no hidden charges ho usme
Kotak credit card against FD
Aisa kuch nai ..mai to 3 saal se 80-90% limit every month use karta hoo.. CIBIL 789 ho gya 730 se
Crrct same here.
It's the average of all the credit cards, not one card.
If you have 2 cards with a limit of 50k each, and you have exhausted the limit on one card then your utilisation ratio would be 50% only.
Same 👋
Correct
RIGHT BRO👍🏻
Thanks yr bht acche se explain kia👍🏻
I'm scared to watch your videos anymore.
You just make me look dumb each time 😡😂
Best TIP : Never buy Credit Card 🤣
Great clarity
Sound advice: Don't use money you don't have. Simple and clear.
Sigma rule: Never Own a credit card
Smart guy
Toh use hi kyu kare aisi bhasad ko....jitna jeb me paisa hoga use kar lenge !!
आपको जीवन में कभी भी कर्ज लेने की आवश्यकता नहीं है तो आप क्रेडिट कार्ड का उपयोग मत करो।
Bhai bank wale normal log ko pagal banate hai. Bank agar loan ya credit deta ho toh dur bhag jana he samajhdare hai😅
Awesome information 👍❤️😘❤️😘❤️😘❤️😘😘 Thanks for this lovely information 👍❤️
Bahut Achchi Jankari De Aapne Thanks Sir
Sahi.. Salah di aapne👌
This reminds me to pay my credit card bill, thank you LLA
idfc offer cash window full 48 days just pay advance fee which is 250 per transaction maximum or 2%
Thanks sir for your guidance
Thank you very much 🙏
Thanks for kind information
While withdrawing from atm, you have to pay 500₹ or 2.5% (whichever is higher) of the withdrawal ammount
30 to 40 percent is per annum interest
There is an expectation for this 30% ratio. If you have multiple cards, the ratio will be calculated on total available credit limit over all cards.
Should I use credit at petrol pumps ?
Thank you 😊
A LLA team and everyone here, I recently came to know about a fact about credit cards. The REFUNDS that you get after returning a product from any online site, if the refund is received after your billing cycle it is not considered as payment of the bill generated, hence you need to pay the full amount. Then the extra amount lying with them i.e. refund amount will be adjusted in your next billing cycle.
I got levied a late fee because of that, i don't want others to face the same.
@lla team please highlight this in a short.
1. Credit card utilization less than 30%
2. Withdraw cash from credit card
3. Minimum payment
Thanks for information 🙏 🙂
Hi sir...ur videos are very informative.. please let me know if I use credit card to pay house rent on Cred app. then interest charges will be from the same day of giving rent or after 40-45 days from spend.
Credit utilization say bach na hai to ye karo -
Maan lo ki aap ka credit limit hai 100000 or aap ko 45,000 ki shopping kar ni hai to phele apna credit limit badha lo 150000 par or fir kar lo shopping 30% ke andhar. Ye tabi kar jab aap ye 45,000 one time pay back kar sakte ho. Baki LLA team say mai ra sawal ki “ credit limit bada ne say kya mai ra credit score kam hojayenga?”
Sahi bola bhai.... Following the same from the last 7 years, the CIBIL score increased above 800 😊
The 3rd point is totally wrong ... if u make a min payment .. the debit interest will be charged 3.6% + GST on your total outstanding per month ...
Useful information
Thank you
Informative
Hindi may know in Many states sir,but the number or amount information which will given hindi is hard to understand try to say in English atleast numbers (i.e pandhhazra.....fifteen thousand)
Total credit card limit ka 80% nhi use krna hota hai.
If you have 5 cards and total limit is 10 lakh then use upto 8 lakh.
Individual limits nhi dekhte.
Useful... Thanks