You can pay in advance with your visa credit card.
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MEXICO CITY – If you have a credit card, it is likely that every month you receive a notification from your bank so that you don’t forget to make the corresponding payment, but have you ever wondered what happens if I make the payment before the due date?
Let’s start by explaining that the cut-off date is a concept that applies to your credit card, it indicates the day on which the bank counts the total charges you made on your card, with the purpose of notifying the total amount to be paid.
How long does it take for a credit card payment to show up?
If it is used correctly, using its possibilities of financing and fractioning purchases in a flexible way, it is positive. For that we do not need to have many cards, but to have them with the appropriate level of credit and seeking to optimize what we pay, that is to say, that the interests are the lowest possible.
Having such a high credit level when we can pay such a low installment is often a dangerous combination. We can charge purchases above our payment possibilities and when paying this minimum installment we pay only interest or very little capital. By continuing to accumulate purchases with this form of payment, the result is that sooner rather than later we will reach the limit of the card, paying more interest and creating a debt difficult to pay.
If you have not made a proper spending control and you find yourself in this situation, increasing the debt with new cards is the worst case scenario as we have seen, so you have to opt for different alternatives, many of these in combination:
Credit card prepayment
We’ve all had a credit card at one time or wanted to start using one. And it’s only natural because credit cards are financing instruments that offer benefits such as payment flexibility and immediate access to cash.
Today, “plastic money”, as it is also known, is welcome in most commercial establishments of all categories: hotels, restaurants, travel agencies, among others, so shopping has become an experience without limits and possible for everyone.
It is a monthly or quarterly fee charged to the customer for having the card and accessing all its benefits. If you want to know more about this subject, go to the web page of the Financial Superintendence www.superfinanciera.gov.co where you will find comparative tables of the main costs charged by credit establishments in savings accounts and credit cards.
They are all those charges for the operations that are carried out when making use of the wide range of products and services provided by the bank. They can range from consultations of financial movements, using the audio line, and everything related to withdrawing and transferring money by any means of the bank. It is important to compare the costs of financial institutions since not all of them charge for the same concepts, nor do they have the same rates.
Pay twice for santander credit cards
For most economically active adults, it is not easy to answer what is the ideal number of credit cards to have, whether one, two or more cards. More is not always better. Beyond the advantages of being able to pay for purchases in installments or mitigate emergency expenses, financial education and knowledge of personal finances will provide the necessary clues to find the answer to the question raised.
In Venezuela, many times you may have seen in your credit card statements a “minimum payment” and a “total payment”, but do you really know which is the amount to be paid that best works in favor of your personal finances?