Without: Karla Bayly
The use of a credit card does not have to be a problem, much less in a nightmare, everything you have to do is understand its operation, know the commitments we received by accepting them and finding & # 39 Which is best suited to use habits. Avoiding cash handling, buying money, getting benefits from loyalty programs and creating a good credit history in some of the benefits that plastic money represents for consumers.
How does the credit card work?
Your credit card can give you up to 50 days of unplanned funding if you're learning to organize your purchases How to achieve? As credit cards are handled in monthly periods, the bank gives you two dates that you must be very aware of, namely: the cut date and date pay.
Between the break date the bank addresses your account statement detailing the purchases and disposals you made during the previous month and the payment date that & # 39 ; n You must pay the total balance if you do not want to pay an interest, there is a 20-day period. If you are organizing the important purchase of the day immediately after your cut date, this cost will be reflected after one month has passed and you will have up to 20 additional days until your next payment date.
Which card is suitable for me?
Contrary to what you might think, the CAT (Total Annual Cost) of the credit card is not the only factor to consider when selecting plastic because you usually pay your total purchases on At the end of the month, you and one of those people who do not pay interest for the credit and the rate will become irrelevant, in this case you should focus on the services and / or benefits included in the card.
Credit cards are divided into four categories or segments: Basic, Classic, Gold and Platinum. Having a Gold or Platinum card will depend on your income level as well as having a good credit history so it's probably if you're looking for your first card, get a Basic or Classic card, which's a # 39; n represent the highest volume of bank customers.
The benefits of basic cards lie in the fact that they do not charge for commission or annuity, although these cards offer some insurance such as travel protection, death and protection against theft and / or loss, & # 39; Includes promotions such as collecting points or months with no interests Be careful, the basic cards are not cheap cards because CAT (Total Annual Cost) in this segment ranges from 45.12% to 67.61% by the gateway Condusef.
You may be able to pay some annual commission in return for more benefits, in this case you can choose a classic card. You will have access to insurance programs, promotions and loyalty, but remember, none of these is free of charge because the cost of these benefits will be reflected in the annuity and # 39; The interest rate you will pay in case it will not cover 100% of monthly debt.
What should I bear in mind?
Usually we link the number of credit cards we manage with economic potential and that is not always right. Treating more than two plastic is the same as dealing with more time to review account statements and pay annual fees for services that we will not use or repeat among the different products that we handle.
Refuse the habit of paying the minimum number of your card just because the only thing you'll achieve is to eradicate debt and still pay several times what it was today & It seems like a good purchase. It is also not a good idea to use promotions for months without interest when what you buy does not last beyond the period you will continue to make monthly payments such as food, clothing or electronics. This purchase option prefers only when it comes to durable goods or the supplier offers you the option to extend your purchase warranty.
First of all, be clear that the credit card does not mean an increase in salary and the cost of money available through this credit is of interest. Learning to manage your credit card will be responsible to help you achieve financial goals such as budget retention, planning and deferring important purchases, dealing with an emergency or anticipating taste. Remember, take control of your money before others do it for you.