What do you think of credit cards? Friend or foe of the monthly budget? Is your interest rate good? Can you pay your monthly bills on time? Fundico tells in today’s post, which are the positive and negative points of credit card.
Credit Card Plus Points
Yes! You use your credit card limit and pay only after 30 days. A wonder, no? Yes, but only for those who have financial discipline! Why? If you do not pay off the total bill on your card as soon as you receive it, it goes into revolving credit, which has the highest interest rate in Brazil, rising from 470% per year!
Besides being able to pay after 30 days, the card is a great additive for those who want to make high value purchases, but in installments. Remember that some stores make the installment of purchases, however, depending on the number of installments, they may have increased interest.
Credit available when you need it!
The card may be the best friend of those with financial discipline. Good managers make the card limit available for emergencies and unforeseen events, saving you from impulse purchases or unnecessary expenses.
Miles program for those who love to travel!
The first miles program was created by an airline. Since then, travelers from around the world have used their cards to buy airline tickets and earn their famous miles to redeem for round trips. If the traveler is lucky, he still gets the round-trip ticket on the lane, only using the accumulated mileage balance.
Credit card negatives
Although it is practical and fast, the credit card has the most expensive interest rate of the credit market in Brazil, you know? It exceeds 470% per year! Click here to learn more about rising interest rates in the country.
The annual fee is charged by most credit card issuers. They argue that this is the card’s only administrative fee. However, there are possibilities of negotiating it directly with the financial one.
Be careful where you put the data!
Exactly! Despite the convenience of doing business with you over the internet (online store purchases), make sure that the website you access has SSL security certifications and is not a fraud attempt to steal your bank details and use them for operations. clandestine credit institutions.