We want to hire a credit card but do not know which to choose. There are different credit cards and many variants. When it comes to choosing a credit card, there are several things that need to be taken into account to make sure that we are choosing the credit card suitable to our needs. Find a credit card analize and consider the information we show you below. Relevant information before hiring a credit card. 1. Type of interest the interest rate should be an important factor in making the decision about which credit card contract.
Depending on the type of applied interest, can have important differences in the amount to pay each month. There are many options, from basic credit cards and low interest up to premium, Platinum cards, the difference is in the credit that we will give, in the rate of interest that will apply and the characteristics of the contract. Main characteristics that we should check: Commission to withdraw money from ATMs outside the entity. Banks do not want to use credit card to withdraw money, prefer that we use it to make purchases because that way they are charging an amount to the establishment where to make purchases. Rate of interest for deferred payment. When we make a purchase with our credit card, we must return the provisions of credit at end of month.
If the Bank sees that there is no money in the account linked, we will collect the interest rate applied to credit provisions. 2. FREE PERIOD OF INTEREST. This is a very recommendable feature that can save us enough money, if we pay the balance provided in its entirety. Many credit cards offer a grace period of interest which can range from 30 to 60 days. Keep in mind that taking money from ATMs does not offer this feature. 3. Annual fee this fee varies greatly between different credit cards. This is very important when it comes to hiring. Must look with a magnifying glass which features or benefits they are included in the annual fee. Some cards may have cost 0, but this is usually at the expense of other important features. Check the contrato.do for an annual fee of anyway. 4 Credit limit for some people is not always as important as other features, but if you intend to use credit card on a regular basis (for example, for daily shopping), that can be a determining factor in his decision. 5 Gifts and other features EXTRA when it comes to this type of characteristics, the reading of the contract is essential, since there is always a part of the terms and conditions that probably do not know completely. Read the contract before anything. In addition, monthly expenditure which has to bear the card to receive these gifts varies greatly between different cards and can be more expensive than the simple fact of going to buy a product at an establishment. That doesn’t mean it’s a bad option, but we will have to thoroughly revise the terms and conditions of the contract. So as we mentioned throughout the article, always read the fine print, because we never know what we will find. MQP Loans original author and source of the article