• Dr Priya S

Often unexpected expenses occur in our life for which one does not have sources or resources to meet the liability. Nor some may have reserve funds or savings to fall back on; at times the funds required may be more than the savings. Usage of credit cards during such times can be handy to manage the sudden cash flow necessities arising during emergencies. It could be a sudden hospital emergency or a deadline based payment. Or could be purchase of a consumer durable wherein to get loan approval may need plenty of documentation and time delay in loan sanction. This article tries to suggest how to choose right credit card from options available and guide on efficient usage and management of credit through the credit cards. Moreover the article offers guidelines on how to prevent misuse of credit cards by fraudulent people. Steps on how to prevent interest burden and cost overrun are explained too. This article attempts to provide suggestions of how one could optimize revolving credit through efficient management of billing cycle and payments.

Credit score, revolving credit, debt, loans, borrowings, interest rate, credit cards, billing cycle, minimum payable balance, annual usage charges

"Efficient Use Of Credit Cards", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 2, page no.a453-a456, February-2022, Available :http://www.jetir.org/papers/JETIR2202058.pdf

"Efficient Use Of Credit Cards", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 2, page no. ppa453-a456, February-2022, Available at : http://www.jetir.org/papers/JETIR2202058.pdf