tips for credit

Although there is extensive supply of credit to help with students loans, today the funding application requires a comprehensive study of the market and the personal financial situation before making credit and loans decision on formalize a loan.

While it is true that Credits have a structure similar to one another, in which the interest rate, depreciation and capital financing are the basics of financing, the fact there are auxiliary variables that need attention.

We should not lose sight of additional bonding required by the entity principally in to additional costs.

It is important to request only that capital needed that the interests are not increased unnecessarily.

Remember that it is important to assess their current economic situation and in the future as far as possible, before you get into a situation that can not continue to meet the payment of credit.

Finally, remember that you have a number of rights prior to the signature:

1. Order the binding offer and require that you collect all data related to credit.

2. Check that the writing reflects the APR

3. Apply to appear in detail the number of shares to pay, the timing thereof, the amount, start date and the date of payment.

4. Make sure that writing every detail of the products linked to loan and broken down the cost of them.

Finally, talk with your bank before any evidence appears to indicate that you will not be able to continue to pay as non-payment of credit and loans compelled to respond with its assets, present and future.

A credit card with a magnetic stripe, sometimes a microchip, and raised a number used to make purchases and pay off the loan at a later date. But their ability to make payments has become a problem for cardholders

The National Commission for Protection and Defense of Users of Financial Services (Condusef) asserted that payment of 0% interest is a smart way to use the credit card. Sounds easy, but how? Basically, following three key recommendations how to use your credit card wisely:

1. Do not sign more than you can afford.
2. Buy after the cutoff date.
3. Settle the total consumption on the date indicated.

The agency also said that today there are various credit and loan options in the market, but some of them are expensive. “Pawnshops, for example, where they can charge up 13.5% monthly interest for borrowing money, whereas if we use our credit wisely we can finance up to 50 free days, which would save up to 20 %, “says in a statement.

Condusef argues that the most important thing is to become familiar with some concepts with the aim of using the plastic properly. Thus, the cutoff date is day of the month that ends and begins a new period of what is being spent, and the deadline is the one with the cardholder to make the payment and not fall into arrears, and where banks generally provide 20 calendar days.

The minimum payment is the amount to deposit to the bank to avoid falling into arrears, and payment for not earning interest is the total amount of consumption incurred during the period and must be paid in full, and must include the monthly payments for promotions.

Meanwhile, the period is the start and end date that includes a cycle and ranges from 30 to 31 days.

Thus, cardholders who pay 0% interest are those that use the card as payment in lieu of cash, and pay the total consumption made in the period, taking 50 days of funding awarded by the bank and are between the cutoff date and payment date.

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