While credit cards are a very useful tool for the acquisition of goods and services, as well as for creating credit history, we cannot forget that we must give them adequate management to keep finances under control.
Management to keep finances
Although it is not something of every day, there are certain situations that are related to plastics and that happen suddenly, complicating the life of users. The best thing you can do to solve them is to know what it is and avoid some bad habits that could lead to them.
Account statement delay
If the envelope with the account statement did not arrive at your door, or the mail did not appear in your inbox, it does not mean that you are exempt from the payments of the month. As much as the delay is the fault of the bank, users must still make payments on the date indicated. To avoid being surprised by these types of incidents, remember to check your monthly consumption by entering the alternative channels of your bank.
Late payment and online
Many people enjoy living to the limit and for various reasons they make card payments on the last day. You should know that many times, if you make the payment online or from an account in another financial institution, there is a period that must be met until the money is paid, so, if you do not calculate correctly, you could fall into default.
If you want to avoid this and you only have the last day available to pay, do it directly at the institution, because those payments arrive immediately.
Different quotas for purchases and advances
Not knowing this information can lead you to make bad calculations in your purchases or consumption of the month. Not always credit cards allow you to use the same amount for purchases and cash advances. Many times, the percentage of purchases can be 100%, while, to withdraw money from the card, you can only access 50%. To avoid confusion, perform the calculations before using your card.
Change of interest rates
Believe it or not, your financial institution can change the conditions of the card, specifically interest rates. This is done by different factors, but in any case, the bank is obliged to notify you by email. If you are one of those who finances your purchases in different months, this will affect the amount of money you will pay as interest.