5 Things You Should Do When You Get a New Credit Card .

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Credit cards secret talks.

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Opening the envelope that holds your credit card is always an exhilarating experience. To tear the seal & open the letter that holds your maximum credit limit is an exciting task for every individual. It gives you an extra layer of freedom to spend and realize all the dreams that you suppressed with an I’ll buy it with my new credit card statement! You must, however, not get pulled into the euphoria & keep a few things in mind before you start using your new credit card!

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1. Activate your cardThe first step is activating your card, which is an easy 2- to a 3-step process. You must simply call the given number & authenticate your details. These days you can also receive an OTP on your registered mobile number to set your card PIN. Alternatively, you can register the card on your account through the net banking platform. 


2. Destroy old cardsIn case this new credit card is an upgrade from the bank or opted by you, destroy the old card by cutting through the magnetic strip. In any case, maintain the practice of destroying the cards as soon as they expire & order for a replacement. 


3. Read the rules & regulationsApart from the blessed document that holds your card & its limit, there are other documents that are a part of the kit. Ensure a thorough read through them all as they enlist the rules & regulations that you are liable to follow. 


4. Spend within your limits to pay within your comfortHowever high your credit limit may be, make sure that you hold your horses on the expenditures. To make sure that your credit score is not hampered, make full payment of your credit card dues every month. This will not only maintain your credit score but will also reflect positively on your credit history, showing you as a responsible borrower. 


5. Check your credit scoreConduct regular credit checks to know how your score has progressed & what measures you must take to repair it, if needed. Credit bureaus like CRIF offer 1 free report every year. Use it to know where you stand & tap any errors or frauds when you see suspicious changes in your score. This way you will be vigilant to report an identity theft in time.