Today, credit and debit cards have become necessary for the proper handling of personal finances within your checking account. Using credit cards as a method of payment and financing allows you to create your credit history for your financial profile, which will help to grow equity through access to credit for the acquisition of assets and productive assets.
The fundamental requirement for the proper use of your credit cards is the discipline and responsibility. The card is not an extension of your income, it is a financing tool. Therefore, here are some tips to follow:
- Identify the basic facts: first to receive a card is to know its cut-off date, payment date and the granted credit limit.
- Consume after your cut-off date: store, write or place an alarm not to forget the cut-off date of your card. If you have several cards, you can plan your consumption to use the card that just passes in your cut-off date, it is the best to use. This will give more time consuming payment you just made. Especially if you’re not going to fund.
- Pay before your date of payment: the way to demonstrate responsibility, put an alarm on your cell phone to indicate the days before your due date. It is recommended that program automatically with your bank the payment of the balance of the debt or at least the minimum payment, this will prevent that passes by high payment and destructive tendencies which nestle your credit history.
- Pay more than the minimum required: it is always advisable to pay more than the minimum amount for the month. Remember that you must give the message to the bank is that you are a good payer and have ability to pay. 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 totaling all your cards. However, using multiple cards can help you better organize your purchases or financing, we recommend to the extent of trying to organize your possibilities as follows:
As a means of payment, you can use a card for your consumption or current expenditure, without finance you, i.e. you will pay the total balance of consumption on your payment date. 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 note that you must be disciplined with managing your purchases and your cut-off and payment date, so you can meet your goal.
To finance your devotes an exclusive credit card as a tool to acquire necessary expenses and assets. Have up to 36 months to pay. Remember that the more power consumption is 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, always leave an empty recommend to deal with any unforeseen expenses that may occur card. This card will add to your emergency savings fund.
- Combine service providers: this is to have at least two cards, preferably from different franchises, most important is to have different cut-off dates to use them optimally. Also assessed to 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 requesting passwords. Avoid making electronic shopping portals unrecognized. When making a payment, do not lose sight of your card to avoid copying your data or changed for other plastic. Do not accept offers of telemarketing unless you request.
- In the case of international travel, credit cards give us security and ease in booking of hotels, rent a car, purchase of transport tickets and events.
- If electronic purchases, credit cards also give us ease and comfort regarding purchase of goods or payment services. Just keep in mind the websites or pay points that are reliable and have approved the security seals for these purposes.
Remember that the use of credits is positive, allowing us to leverage financially, the premise is that buy credits on our ability to pay, avoid unnecessary costs and remember that discipline and responsibility are essential in the proper use of credit card.