3 Things You Should Do When You Get a New Credit Card

 

A new credit card is definitely something to be excited about as it offers the liberty of spending. You can use it for numerous purposes like bill payments, shopping, repayment of loans, paying policy premiums etc. It offers the cardholder great convenience and ease. By not getting carried away with exhilaration, here are a few important things that you must do after receiving your card –

1) Activating your Credit Card

This is an easy procedure that includes 2-3 steps. Activating your card enables you to start using it. You cannot make transactions through your card if you have not activated it. You can simply call the customer care or activate it via an OTP received on your registered mobile number.

2) Understanding the terms & conditions

Before you start using the credit card, it is important that you read the instruction thoroughly and have a complete understanding of the fees and charges. You also must have complete knowledge about your spending limit so that you use the card judiciously.

3) Discarding old cards

If the new card received by you is an upgraded version from your bank, you should discard the old card by cutting the magnetic strip behind it into two.

Read Also - All Key Points to Know About Credit Card Pre-Approval

Want to apply for a credit card?

You can easily apply for a new credit card via banks or credit card apps like the RBL MyCard app or Bajaj Finserv App. RBL credit card is one of the popular cards in the market. An unsecured credit card needs a strong credit history from the applicant. Sometimes you may not have the pre-approved offer for a credit card. In such cases, if you do not have a credit history, you can opt for a secured credit card where a security amount is taken from you against your new credit card.