Today, credit cards have become a traditional and necessary for the proper handling of personal finance tool, are a method of payment and financing, the latter allows you to create your credit history for your financial profile, which patrimonially will help you grow through access to credit for the purchase of assets and productive assets.
The fundamental requirement for the proper use of your credit cards is the discipline and responsibility. Before using credit should clearly know the facility of this card and review it carefully.
The card is not an extension of your income, it is a financing tool. So, here are some tips to follow:
Identify basic facts: first to receive a card is to know your cut-off date, payment date and the granted credit limit.
Consume after your cut-off date: Stored, recorded or set alarm to ensure that you don’t forget the cut-off date of your card. If you have multiple cards, you can plan your purchases to use the card that has just passed on your cut-off date, it is optimal to use. This will give you more time to pay in consumption that you just made.
Pay before your date of payment: It is the way to show responsibility, sets alarm on your phone that indicates the days before to your payment date. We recommended the program automatically with your bank to pay the balance of the debt or at least the minimum payment, this will prevent that passes for high payment and loss your credit history.
Pay more than the minimum: It is always advisable to pay more than the minimum amount for the month. Remember, the message you give to the bank is that you are a good payer and you have ability to pay. If you only pay the minimum amount often, the message is clear; your ability to pay is limited.
Do not exceed 3 cards: Obviously the determining factor is not the number of cards you have but the credit limit which add up all your cards. However, using multiple cards can help you better organize your purchases or financing, we recommend to the extent of try to organize your possibilities as follows:
- As a means of payment, you can use a card for your consumption and running costs, without financing you, i.e. you pay the full balance of consumption at the date of payment. This may be the card you use most often. This card will allow you to improve your credit history and possibly in a few months, your credit limit will be higher. But keep in mind that you must be very disciplined with managing your consumption and your cut-off dates and payment, so you can meet your goal.
- To finance you, devotes an exclusive credit card as a tool to acquire necessary expenses, assets or productive assets. Have up to 36 months to pay. Remember that the more power consumption to be financed, should propose to pay in less time. For example, if you buy a blender, prepare a plan for less than a year payment; otherwise, if you finance the purchase of higher spending as a fridge or expense of remodeling your home, you can plan a longer period. You can also combine your strategy with parallel financing credit card.
- For emergencies, we recommend that leave a card always empty to deal with any incidental charges that may occur. This card will add to your emergency savings fund.
It combines service providers: Try to have at least two cards, preferably from different franchises, the most important is to have different cut-off dates to be able to use them optimally. It also assesses have at least one card from a different bank.
Do not forget basic security keys: Today it is imperative to protect financial data, remember that no banking institution requested personal passwords. Avoid unrecognized electronic shopping portals. When clearing a payment, do not lose sight of your card to prevent you from copying your data or change in other plastic. Do not accept telemarketing offers that you have not requested.
For international travel: Credit cards safely and easily give us regarding the hotel reservation, car rental, purchase of transport tickets and events.
If electronic purchases, credit cards also give us ease and comfort regarding procurement of goods or payment services. Just keep in mind that the websites or pay points that are reliable and have adopted security seals for these purposes.
Remember that the use of credits is positive, allow us to leverage financially, the premise is that you can acquire credits on your ability to pay, avoid unnecessary costs and remember that discipline and responsibility are essential in the proper use of your credit card. What you can become your best ally for managing your personal finances and improve your quality of life.