How to use a credit card correctly?

Credit cards are quite a convenient and much cheaper option than various loans or loans in retail outlets, which is why they have become so popular today. However, lately, since it has become very popular to use credit cards, banks decided to use it for their own purposes, by introducing various additional commissions for transactions, even if the person decided to pay with a credit card for any purchase. That's why everyone should know how to use a credit card.

The main advantage of this card is that you get it only once, after which you can carry out a huge number of transactions on it, as you can use your credit card completely at your discretion. For example, you can borrow one credit card at various times, and then cancel loans any number of times.

For each specific borrower, the bank determines a certain limit on the card - this is the maximum amount that is available to it. With such money a person can dispose of any number of times convenient to him.

Credit cards combine all the advantages of a short-term loan, which are issued by some networks, and various non-targeted loans, when drawing up which the bank does not ask any unnecessary questions about exactly where the person is going to spend money. The cardholder gets access to borrowed money much faster than any consumer who decided to use an express loan.

Expensive delay

If you do not know how to use the bank card, ask your bank staff about it. Perhaps the card has limited opportunities for purchases or other actions.

Repayment of the credit card debt will have to happen approximately according to the following scheme: at the end of each month, the bank sends a sms card to the user or a message to his e-mail stating that he must pay interest on the credit card and the amount he should pay. Often, this percentage is from 5 to 10% of the total loan amount.

In some cases, the bank initially fixes the amount of payment, regardless of the amount of the loan taken. Delinquency of payments, just like in the case of issuing a standard loan, is punishable by imposing a certain fine. It is always necessary to immediately look at you in the contract for absolutely every item and clarify exactly what amount will be charged when your payment is late, as using a credit card is dangerous enough if you know that you can be late. To date, the delay in payment is one of the main methods of bank fraud.

And immediately it is worth to say that for the first payment, most likely, the amount will not yet be as significant as for the subsequent ones, so it should also be clarified with the representative of the bank or in the clauses of the contract.

Interest-free loan

Often, when making a loan, many banks prefer to give the client a certain period of time to pay off the loan, until the expiration of which the loan amount will not be charged with various interest. Depending on the bank, such a period is, in most cases, from one to two months. It should also be remembered that if you are late at least one day after this period, then you should already pay the interest that you would have accumulated during this time.

Also it should be noted that such frauds are turned by banks under the veil of the name "interest-free credit", when a person draws up a loan without interest, for example, for a year and a half, but later starts to pay incredible money, because he could use a credit card for free , Only a few months.

SMS-banking

Immediately after issuing the card, you should activate the SMS-banking service. This service will ensure maximum security for your card, as you will be informed by phone about absolutely every transaction with your account.