Do You Use Credit Cards? Don't Forget the "30% Rule"!
When it comes to credit cards, the crucial factor is not *how many* cards you possess, but rather *how much* you utilize them. Experts recommend keeping your spending within 30% of your total credit limit. Let's assume you hold two credit cards: the first has a limit of ₹1,00,000, and the second has a limit of ₹50,000. Now, according to the 30% rule, your combined spending across both cards should not exceed ₹45,000. Otherwise, there is a risk that your credit score will decline, as banks may perceive you as someone who is overly dependent on debt.
You Might Also Like
-
When it comes to credit cards, the crucial factor is not *how many* cards you possess, but rather...
-
Sleeper beds—typically found in buses and trains—will soon make an appearance on Air New Zealand...
Leave A Comment
Comments