Credit Card Can Erode your Wealth

In Today’s Scenario every body is using a Credit Card & they are having almost all the bank Credit cards. Each person, house hold or business man using credit card because its very easy for them to pay their bills through credit cards but they see only one side of the coin they are not aware of the other side of the coin.

They don’t know that too much credit card can be risky and its affect on their Wealth management Plan

And carrying too many credit cards will effect on your credit score especially if you use too much of your available credit. If your credit score become low than your name will come on CIBIL record and than bankers may also reject your loan application & some banks are not ready to give you credit cards

If used properly, credit cards are a safe way to buy goods because they offer protection against fraud that checks and cash can't guarantee, especially when it comes to return policies or fraudulent purchases

The best way to protect your credit is to keep only few numbers of credit cards. A reasonable number is determined by your capacity to maintain a low balance and make your payments on time. In an ideal word you should use less than 30% of your credit limit on each card.