Intelligent use of credit card


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Know and use our credit card wisely can generates great benefits, the most important PAY 0 % INTEREST and this can be achieved any cardholder from a person who has a modest salary , to those with higher incomes .

The secret is not to sign more than you can afford , buy after the cutoff date and settle the total usage on the date indicated .

Today there are various credit and loan options on the market , but some of them are a costly alternative , for example, where Pawnbrokers charge can reach up to 13.5 % monthly interest for borrowing money , while if we use our credit card wisely can fund us FREE for up to 50 days , which would save up to 20 % .

Today CONDUSEF explains how you can get this benefit , and also gives some suggestions for better use your credit card :

First you must know and get familiar with some concepts that are important and that you should keep in mind to use the plastic properly, which are:

Court date , which is the day of the month that ends and begins a new period of what is spent on the card.

Payment deadline , which is the date that has the cardholder for payment and not fall into arrears and where banks generally provide 20 calendar days.

Minimum payment is the amount to pay the bank to avoid falling into arrears .

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Payment for non-interest , is the total amount of consumption made during the period that must be liquidated fully , one must include the monthly payments on promotions.

Period is the start date and end comprising a cycle and between 30 and 31 days .

Cardholders who pay 0 % interest are those who:

They use the credit card as payment in lieu of cash,

Pagan the total consumption made ( total balance ) and

They take advantage of the 50 days of funding granted by the bank and are between the closing date and the payment date .

The following diagram shows how a period is made , the most important dates that cardholders should take into account , as well as how to make up the 50 days of funding.

In this example, the 50 days of funding fall from 8th January until 27 February. It is worth mentioning that if the person using the card on January 9 , then it will 49 days of financing and so on . RECOMMENDATIONS .

Liquidate your total consumption for the period in the payment date indicated on your statement .

Use your card the next day of the court date .

Just sign what you can pay in full each payment date .

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Do not abuse the promotions for months without interest and that compromise your ability to pay.

Use your credit card wisely and make the most of it.

 


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