How can I use my credit card without getting into debt?

To be able to manage files personal financing Integrate the use of a Credit card for you financial lifethe ideal is to know how this tool works, as well as some tips so that it becomes your ally and is not a burden as you are used to Payment method or payment.

Even before hiring a plastic bank The best thing is that you know what this type of financial product is all about, as well as some basic points that you should pay attention to enjoying your bank plastic rather than suffering from using it without being aware of yourself, so we tell you six aspects that you should not Pass the highest level below.

So that your credit card is your ally, not your enemy, learn about these aspects so you can get the most out of your plastic. (Freepik)

your credit limit. If you want to use credit to your advantage to build wealth and not become a problem, you should calculate your ability to repay so that you don’t become over-indebted by going over the amount you want. income level Allows you to cover

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If you have a much larger line of credit than you can afford to pay, this will be fine so that you can indulge in capital in the event of an emergency, but in your daily life it is better to limit yourself to what you can pay without the problem of setting a personal limit on your fees.

Pay on time. This is the key to the whole thing, as having the ability to finance purchases beyond your means at a certain time has its cost in the concept of interest, it is better to pay on the required date so that you do not accumulate and do not end up paying much more than the original invoice.

Beware of minimum payments. When Credit Card Cut Date and the Account Playground Giving you the dread with the total figure, the minimum payment suggestion that the bank gives you would be tempting, but you should leave it as a last resort so you avoid the hassle because it is a payment that serves so that your line of credit is not cut, but it generates interest and what you owe to the bank will start to rise.

Installment purchases. When you have a purchase for a large amount, the method of buying for months without interest with your bank card is a great option to freeze the cost of the product and divide it into installments that you can easily pay off.

Try to leave this tool to those purchases that give you interest that will last over time, as a device that helps you with work rather than recreational purposes, because it will give you interest while you keep paying it, reimbursing you for the expense. What you need to take care is not to abuse this method so as not to saturate your credit cards.

Extra plastic. If you take charge of your personal finances by being clear about what purchases you can afford by guiding yourself with a monthly budget, and if you will be ordering additional cards for other family members, it will be important to maintain close communication about its use so that there are no misunderstandings.

credit bureau. Finally, we will look at the appearance of a file register Credit with the credit bureau It is he who keeps track of all the financing you request, as well as your behavior to take charge of said financial obligations by reporting all this data to the financial company. Credit Information Society (SIC) which is this entity.

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Since everything is recorded in this database that banks consult to decide when you ask them for a loan or other financing, the best for you is that these records talk about you as much as possible and you should cover your monthly payments on the indicated date without delay so as not to It is reflected and you enjoy Well qualified so that your applications will not be rejected.

For more information on this and other topics, visit the Credits section of My Pocket.

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Graduated from the School of International Studies and Public Policy of the Autonomous University of Sinaloa. Observer of sky and nature. A fan of music and literature.


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