5 useful tips to use credit card effectively and safely

Nowadays, credit card become an essencial payment method in the cashless society. Credit card help you manage your spending and build your personal credit rating effectively. However, if you do not use it wisely and carefully, credit card may get you into some financial troubles and another relevant risks. .

Here are 5 recomendations to help you use your credit card effectively and safely.

1. Take full advantage of the interest-free period

One of the biggest benefits of using a credit card is that you can enjoy an interest-free period on your purchases. Normally, the maximum period is from 45 to 55 days. This is the period that card owner can balance the own budget and make payment for your statement. You will take full advantage of interest-free period if you make the transaction in the early of next circle, the first day after statement day. Once you understand the nature of interest-free period, you can actively manage your personal payment aligned with your current financial status.

2. Study carefully all terms and conditions

Most of people will ignore terms and conditions of credit cards as the content is normally long and boring, concequenly they ussually face with unexpected cases of being charged more. For example, you do not clear understand about the due day, you might have pay the interest because of late payment. Some important information you have to pay attention to includes conditions of credit extension, statement date, due date, late payment terms, interest rate, etc.

3. Look for credit card promotion

For customers acquistion and retention, most of credit card providers offers rewards such as cashback, air miles, reward points, vouchers and discounts when purchasing at fashion, restaurants, hotels, heaths & beauty, tech devices and gadgets partners and so on. Making use of all availble offers help you save a lot. If you have The First credit card of Shinhan Finance, don’t forget to discover offers from Shinhan Finance here!

4. Secure credit card information

It is easy to be leaked out information when paying online, withdrawing cash, purchasing at stores or supermarkets...Thus, you should be careful when making transaction and keep in mind some below points:

• When shopping at POS, you should carefully keep your eyes on your card during payment process, recheck bill before signing and keep the bill for later review.
• In case of cash withdrawing at ATM, you should cover when entering PIN and not write your PIN on the card, especially secure information during your online payment.
• In the event of loosing your card, urgently report to the credit card provider to lock your card or in the app of card provider. Now, Shinhan Finance has set up the card locking function on iShinhan, so you can lock The First card of Shinhan Finance right on iShinhan app by yourself, and register to issue new card.

5. Regularly check credit balance and montly statement

Another not good habits of many card owners is checking credit balance regularly. Today, most of apps of credit providers support card service, so with some simple steps, you can easily manage credit balance and identify abnomal transactions (if any). With The First customers, you can use iShinhan app to do it. Let’s form your habits of checking credit balance and monthly statements regularly! If there are any spending not being conducted by card owners, you can report to credit card providers to check and have prompt actions.

Remember these tips to become a smart and chic consumers!

Register to experience The First credit card of Shinhan Finance here!