With proper handling, the credit card turns out to be a tool and an indispensable ally to obtain economic facilities that give you immediate solutions.
The problem comes when you exceed the use and fit of your credit cards in unnecessary purchases. On the other hand, ignorance of the correct functioning of the cards can have an impact on your pocket.
According to data recorded by the Superintendency of Banks (SIB), at the end of 2018, credit card loans represented 6% of the portfolio and debts with plastic money represented a growth of 12%. In addition, the credit portfolio for consumption through cards in Guatemala totaled $ 1,464 million, 12% more than the data reported at the end of 2017.
How to have a credit card and survive to tell it?
Use it as a last resort
If you do not have economic stability, try to use it, if possible, for expenses that you can defer to a single fee. This is the only way to prevent your purchases from generating interest. Using it as a means of financing to pay credits or education, in the medium and long term, makes you pay twice and sometimes triple what you thought at the time.
With one card is enough
If you have the need to purchase one, do your best to make it the only one you drive. In this way you will know the limit of your credit and you will not be tempted to make excessive and meaningless expenses that affect your financial well-being.
Differences between the cut-off date and the payment date of your card
The cut-off date is the day stipulated by the bank as the end of the record of the purchases you made during the month with your credit card.
The payment date is the last day offered by the bank to pay the fee for the purchases you made during the month. Usually the bank sets the payment date 20 days after the cutoff date.
You should keep in mind that if you can make payments or payments in advance of your payment date, you will avoid default interest and free up quota for future purchases.
Say NO to progress
This modality of the credit card allows you to withdraw cash at ATMs of the financial institution. The disadvantage of this function is that the banks automatically defer the term to pay said loan, in many occasions, from 18 to 36 months, which generates a high amount of interest.
Thanks to the cards we can access the purchase of different products or services through national and international web portals, a process that facilitates our desire to buy, but which is extremely risky if you do not have the precautions of the case. Therefore, it is very important that you verify the security of the web portals you access before entering your password to avoid cloning and make purchases in your name.
Credit card with a debt
If these tips did not arrive on time in your life and you already have a credit card with a debt that is a stone in the shoe for your finances, the best decision you can make is to request a Good Finance Credit to consolidate that obligation and make a Immediate payment. This will not increase bank interest and you will not have to pay the bank more than you actually spent.
Remember that if you need a totally free financial advice on credits to make your dream come true, you can do it with Good Finance Credits, with custom-made fees, no surety and in less than 24 hours.