5 Credit Card Myths That You Must Know

By OneCard   |   November 22, 2022

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Most of us get our first financial planning lesson from our family. And a lot of times these lessons tend to be fear-driven. It’s always about a relative who lost a chunk of money in a scam or a neighbour who accumulated huge debt.

And while it’s good to be cautious, it’s also important to have a positive outlook on credit. Because as a millennial, you may need it at any point. Here are three things you must know about credit cards.

1. Access to credit is crucial

Not all aspirations can be attained easily with your paycheck, but that doesn’t mean one shouldn’t dream big. Most major milestones or big purchases require credit or loans. And your credit score acts as your character certificate in such applications.

One way of earning good credit history is using your credit cards well. Here are a few thumb rules you can follow to ensure that:

  1. Always pay the bill on time and in full

  2. Never max out on your card

  3. Do not accumulate debt

  4. Avoid late payments

2. Drop the credit card fear

Sometimes people avoid credit cards for fear of high-interest rates and fees. What they forget is these charges are incurred by those who failed to pay their dues on time. Paying interest fees is a choice, you can easily avoid it by paying your dues in full and on time each month.

Another thing you can do to avoid paying any extra fees is to be aware of any charges levied on you. These charges are only levied on using certain fees like forex charges, balance transfer fees, cash advance charges, etc.

The OneCard credit card app is designed with simplicity and clean looks, so you’ll never miss out on your bill payment. You get important reminders and can also pay your bill in-app. Bill statements and transaction history are also available at just a click.

3. You can build a healthy relationship with credit

Without access to credit, fulfilling your life goals is highly unlikely today. Planned debt or credit helps you take a systematic approach to your dreams. Be it building a home, expanding your enterprise, or just going on a vacation of a lifetime, having access to credit can make it all comes true.

Building a healthy relationship with credit is allowing yourself to dream bigger. You can do so by maintaining a good credit score, analyzing your credit reports, and tracking your finances.

Why get OneCard?

OneCard is a mobile-first, metal credit card ev ery millennial needs. It helps you set up payment reminders or enable auto-pay so you always pay your dues on time. You can also easily keep track of your expenses, plan big purchases with easy EMIs & earn amazing rewards on every transaction.


**Disclaimer: The information provided in this webpage does not, and is not intended to, constitute any kind of advice; instead, all the information available here is for general informational purposes only. FPL Technologies Private Limited and the author shall not be responsible for any direct/indirect/damages/loss incurred by the reader for making any decision based on the contents and information. Please consult your advisor before making any decision.