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Master Your Credit Card: 7 Smart Ways to Control Spending and Boost Rewards!
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CNBC TV18•23-09-2026, 21:29
Master Your Credit Card: 7 Smart Ways to Control Spending and Boost Rewards!
- •Limit credit cards to track spending and payment dates easily; choose cards that align with your regular expenses for maximum benefit.
- •Set spending alerts to monitor transactions in real-time, identify approaching limits, and flag suspicious activity for better security.
- •Use credit cards for planned expenses only to earn rewards without increasing overall spending on unnecessary purchases.
- •Pay your entire credit card bill on time to avoid interest charges and prevent outstanding balances from accumulating.
- •Maintain credit utilization between 30-40% to protect your credit score; consider using a debit card for some purchases to manage usage.
- •Maximize card benefits by using the appropriate card for categories where it offers better rewards, such as groceries or travel.
- •Keep financial goals in mind before making purchases to avoid impulse spending and stay on track with savings and emergency funds.
Key Questions Answered
Financial guidelines recommend keeping your average credit utilisation within the 30% to 40% range, or around one-third of your available limit. Keeping utilization in check prevents negative impacts on your credit score.
Clearing your entire bill by the due date helps keep interest charges and outstanding dues under control. Paying only the minimum amount leaves a balance that accumulates unnecessary interest and increases your eventual repayment.
Spending alerts track transactions in real time based on specific thresholds or amounts, allowing you to notice when expenses near your target limit. Additionally, security alerts can flag suspicious transactions to help you monitor your card.
