Things to do for credit card customers in the new year
When the new year comes, everyone starts with new plans and goals. You may have many plans around the new year. If you’re a credit card user, you should do more in the new year. It will improve the credit card usage experience and avoid many additional problems.
As we say goodbye to the old year and enter a new one, banks may change their credit card policies and the existing financial system has to do a number of things anew.
And so at the beginning of the new year, our post is about making all kinds of financial transactions using your credit card safely and conveniently.
Check out our article on what a credit card user should do at the start of the new year. Let’s begin.
Review the card’s annual charges and other costs
You might think you already know the card’s annual charge and other fees. But another thing to keep in mind is that banks often change their annual fee and other charge structures towards the end of the year. Check annual fees again to see if your bank has made any such changes. Many times it can be seen that the annual fee can be waived due to a certain amount of transactions on a bank’s credit card. So if you know about the new policy it will help you to plan your financial transactions this year.
Check Reward Points
There are many benefits to using credit card rewards points. For example, you can redeem points and take the card balance. You can also pay various shopping bills. You can even pay the card’s annual fee with reward points. Some credit card rewards points expire/expire after a certain number of calendar years. So check in advance to ensure that your reward points are not lost this year.
Renew dollar endorsement on card (if required)
If you use a dual currency credit card, you can use that card to spend dollars while shopping on websites outside Bangladesh or in stores outside Bangladesh. In that case, that dollar has to be endorsed from the bank with the help of passport on an annual basis. Credit Card Dollar Endorsement with Passport is usually done for one year.
However, you can make the endorsement for multiple years if you wish. If your credit card has dollar endorsement only for the last year, then this year if you want to spend dollars on your credit card, you need to get a new passport and endorse dollars on the card. So check the dollar endorsement on your credit card at the beginning of the year in advance and if necessary go to the bank branch and endorse again.
Don’t just endorse dollars. Your credit card must have a sufficient balance and your credit card’s foreign gateway must be active for transactions when the endorsement is activated. If everything is fine then you can make dollar or foreign currency purchases with your card.
So if you are a credit card user and the above applies to you then take necessary action for your card as soon as possible without delay. Have a happy new year. You can share your opinion in the comments, thanks
