Do you get nervous just thinking about having or regularly using a credit cards? It’s not just you. Several boomers and millennials claim they are more afraid of credit card debt than dying. Well, the phobia is a real thing. Ironically, wise credit card use might benefit you at various phases of your life.

Once you know which scams to avoid, you’ll realize that using a credit card may be an effective strategy to raise your credit score. In an emergency, credit cards might also come in handy.

Of course, a healthy dose of wariness is a good thing. One should respect credit cards and make them work for oneself instead of the other way around. We shouldn’t fall victim to myths and misconceptions just because someone you know has bad money management skills.

You can prevent typical errors and maintain control over your credit profile by being aware of how credit cards operate and establishing sound financial practices. To allay your worries, consider the following three credit misconceptions and truths.

Smashing Phobia 1: When Plastic Turns Drastic and You’re Left with a Titanic Bill!

Set a reminder seven days before the interest-free period expires. You have a week’s window to make the payment. Otherwise, switch on the auto-debit option. It comes in handy when you’re feeling a little lazy to do budget journaling. This reminder works as an incredible tool to be debt-free and always pay off your balance on time and in full. Escape from the credit interest-paying cycle, as once you start paying interest, you negate all the rewards you earned. Mastering the process will enhance your CIBIL score. Therefore, you need to watch yourself, since when the bill comes due, those cool, expensive boots you purchased probably won’t look so cool anymore — just spendy.

Smashing Phobia 2: When Your Score Takes a Hit and Your Credit Becomes a Circus Act with No Safety Net!

Another Visa nightmare is that you’ll crush your CIBIL score by simply having a credit card. But to be honest, you can only ruin your CIBIL score if you have bad money management habits. On-time instalments represent 35% of your credit rating, more than other scoring components, so assuming you get that part right, you’re making excellent progress so far. On the other hand, a late repayment can have a serious compounding effect.

Smashing Phobia 3: When Fraudsters Strike and Your Card Becomes a Hilarious Comedy of Errors!

Credit card frauds are a real thing. No, we’re not scaring you. We’re just alarming you so that you know what you have in your pockets. Any sort of card or financial product can be easily misused by fraudsters. Debit cards or savings accounts are more unsafe as they give anyone direct access to your cash. The cash is gone until you get things arranged with your bank. With a credit card, you take a mini loan, and therefore you can always report fraud and keep hold of your cash. Recovering your cash can take days or even weeks. In simple words, when someone uses your credit card number fraudulently, your bank account hasn’t lost any money, and you’re not liable for any charges if you report it on time.

Get ready to be wowed! PickMyWork has some credit cards that are so amazing, they’ll make you do a happy dance! With perks so awesome, they’ll make you feel like a celebrity. Get ready to earn!

American Express – Platinum Travel

  1. Enjoy 8 complimentary Airport Lounge visits per year.
  2. Zero Lost Card Liability.
  3. Fuel Convenience Fee Waiver.

American Express – Membership Rewards: 

  1. Zero joining fee & annual fee.
  2. Welcome Gift of 4,000 Bonus Membership Rewards Points.
  3. Taj voucher worth Rs. 14,000.

AU Bank: 

  1. Zero joining fee & annual fee.
  2. Multi-Rewards and Lifestyle benefits.
  3. Amazing welcome and Milestone benefits

Axis Bank:

  1. 5% cashback on Bill pay and Recharge through Gpay.
  2. Complimentary lounge access, OTT benefits, and much more.
  3. Welcome Benefits. Cashbacks. Shopping & Travel Voucher.

Axis Bank Credit Card

Bank of Baroda:

  1. Zero joining fee.
  2. Multi-Rewards and Lifestyle benefits.
  3. Amazing welcome and Milestone benefits.


  1. Zero joining fee.
  2. Multi-Rewards and Lifestyle benefits.
  3. Amazing welcome and Milestone benefits.


IDFC First bank:

  1. Zero joining fee & annual fee.
  2. 10X rewards that don’t expire.
  3. Interest-free cash withdrawal from ATMs for up to 48 days from the date of card issuance.

IndusInd Bank:

  1. Zero joining fee.
  2. Multi-Rewards and Lifestyle benefits.
  3. Amazing welcome and Milestone benefits.

Click now & buy Credit Cards from PickMyWork App easily.