Credit card design may be needed in case of urgent purchases that cannot wait until the salary. Also a credit card may be a convenient tool when making everyday purchases and pay bills.
Today there is a large number of profitable proposals from different banks with which you get the opportunity to receive cachek, as well as bonuses, paying goods by credit card.
The correct use of this loan product will help to cope with financial difficulties without changing you in the debt.
When making a credit card, each is obliged to carefully read the contract, and ask about incomprehensible points from the bank manager, so that in the future it is not encountered with a number of problems while using a loan product.
Grace-period or grace period is a period of time when you can return money to a credit card back without percent.
For example, a specific cash limit has been installed on your card. Having spent these money you have a certain period of time when you can return them back to the card without paying any additional amounts.
The deadlines of the grace period, as well as the size of the limit of funds are indicated in your contract. You can get acquainted with detailed information in the mobile application of the bank.
Banks form their list of operations to which percent limitations are imposed. So, for example, it is impossible to withdraw cash in an ATM without paying interest.
Therefore, the credit card is the best tool for paying purchases, but not for cash withdrawal.
Transfers to other maps and similar operations are equal to cash withdrawals, so commissions and interest are also superimposed on such operations.
In the context of tough competition, banks come up with new and new bonus programs for their customers — some remuneration for using their credit card.
The accrual of bonuses occurs for committing certain purchases or payment of certain services. One bank can offer you several bonus programs. Accordingly, you will choose the one that is suitable for your lifestyle.
You can also often find credit cards with a bonus program for lovers to feather and just fly by plane. After payment of the air ticket, the bonus miles come to the account, which can be used when purchasing the next ticket.
The contract on credit cards has a clear point that informs that cash withdrawal entails huge interest in ATMs. This is due to the fact that the bank is more profitable when you use a cashless payment method.
But it often happens that you need cash, and then there are several ways to get them off credit cards without paying interest:
Today is not uncommon when the mobile operator has its debit card. This card is tied to the phone number. You can not only replenish the balance, but also pay for purchases.
Thus, you can transfer funds from a credit card to the account of the mobile operator (phone number), and then with no commission to withdraw your money. In addition, some mobile operators allow translations from cards to virtual wallets. And in this case, it is worth learn about possible commissions in advance about possible commission conditions.
Such an operation is not considered a translation and is not equal to cash withdrawal, you simply replenished your mobile account, and then you can already withdraw money from a virtual card, which has one account with a mobile account and use the bank’s money without a commission.
If your acquaintances are going to make a large purchase, you can offer them to pay the goods by credit card. And they, in turn, return to you cash in cash or transfer to the debit card.
This option is not always suitable for those who need to urgently cash money. Because the time to search for acquaintances with plans for large spending can delay or do not bring any results at all.
Transferring money to a debit card of the same bank, or a virtual wallet does not guarantee the complete absence of payment of interest, but the creature reduces its size. This option will be more profitable than cash withdrawals in ATM.
Yes, there are such banks. In an example, you can take «Alpha Bank». According to the banknote of this bank, you can withdraw cash in ATMs of partners and not pay the interest and commission for cash withdrawal. Moreover, the grace period is saved for you — the main thing in time to replenish the score and prevent delay.
We brought in an example not all banks, but keep in mind that there are such banks.
The use of a credit card can be an attractive offer for you if large purchases are predicted. Then it is better to make a consumer loan, mortgage or car loan.
Also, the credit card is not suitable if you urgently need cash.
The return of spent money from the map in the grace period will be excellent tools for the formation of good credit history, and will also deprive you the need to pay interest.