A credit card It is a form of financing that offers Benefits What taxes and other options. However, if used incorrectly it can become a problem.
Currently the economy does not register the best indicators for the Colombian pocket, due to the inflation growth and to tax increase laws to control the rising cost of living and thus prevent cities from splitting up.
However, reality shows that, given the financial difficulties, Colombians resort to the use of credit cards as a source to meet the financial obligations that arrive every month without fail, and for which a prompt response must be given. may affect or credit history.
And how to make good use of the credit card in times of high juries? According to specialists, the best decision would be to avoid the use of this type of financial products, due to the operating costs involved due to the usury rate, which currently stands at 43,26%, according to the Financial Superintendence.
However, since this is not possible, for the reasons mentioned above, the bbva bank offers some useful tips for better management of Credit cards.
First of all, it is better not to exceed its accessibility. That is, the total consumption of the quota is not reached, but there is no way to pay it.
Also to ensure that the payment date is close to the payroll date. This allows you to comply with your obligation within the designated term, prevents you from forgetting or exceeding the term, and does not represent delay or superior interest.
Remember that it is also important to keep track of everything that is paid with the credit card, so you will know if the credit limit has been exceeded or not and you will avoid overdrafts or commission payments.
The bank also recommends that you strive to contribute more than the minimum payment when paying installments and, if you are going to take a cash advance for this product, that this decision be made only in an emergency.
Also, if you only have one credit card or if you have multiple credit cards, consider consolidating your debts into one credit card to meet deadlines.
“All the actions carried out are recorded in the credit history, and delays can trigger blockages in credit lines and, depending on the number of days in arrears, this will affect the credit categorization of financial markets. Paying is very important”, he emphasizes.
And one final piece of advice: don't confuse deadlines with expiration dates. In each term there are 27 or 35 days to register purchases and card payments. After that, you have 15 days to make at least the minimum payment by card.
“For example, if the due date is February 3, the next due date will be March 3, and the payment due date for that period will be March 18. Remember that the date is recorded on your credit card statement, “emphasizes the bank.
It is important to take into account that the projections are that, due to the increase in inflation, it is very likely that there will be an upward adjustment of interest rates by the Bank of the Republic; If this happens, it will affect the evasion rate and would imply that this tax is above the current threshold.