By acquiring a credit card, regardless of the issuing bank, you will immediately have a certain amount of money that the same bank has authorized for you to use, even without having that amount of money in your power at the time of spending.
There are certain things you should know before taking out a credit card for the first time. You must also take into account the advantages and disadvantages of a credit card .
This is how the credit of our cards works , basically the bank lends us money so that we can use it and then return it with a percentage of interest. This percentage is established when applying for this card, although there are banks that have a fixed percentage.
When having a credit card, you should bear in mind that it is not a good idea to abuse it, since the amount of money that the bank will charge you as interest may increase due to certain altercations, such as late payments or overdrafts. .
The credit line of these cards is renewed every time you decide to completely cancel the previous debt . It is very important that you be aware and realistic when using it, since overdraft and late payments lead to certain consequences that we will explain later.
How do you pay for a credit card?
To cancel your credit card debt, you must be aware of your payment dates and cut-off dates . The payment dates are those that the bank establishes as the deadline for you to cancel part of your debt or it is complete, and the cut-off date is the one that the bank marks as the end of a period of use of the card, from there a new account begins.
It is recommended that you cancel your debt completely and within the time limit, to avoid generating additional interest due to delay. A very effective and fast way to cancel debts with your credit card is through balance transfers that you make from one of your accounts to the credit card added in your options.
You can also make payments through the ticket office of the issuing bank of your credit card, this can be done by means of cash or a signed check. Another option widely used today, and perhaps the most practical, is through the website of the bank that issued the credit card. For this it is very beneficial to have a savings bank account .
What if I have no money or work to pay a credit card?
At this time it would be very useful if you had a savings account in a bank. The reality is that if you do not pay the debts that you have with the bank for your credit card, they will simply remain there or otherwise, they will increase in value since they can charge you interest for the delay in the cancellation of your debts.
The best thing you can do in these cases is to go to an operator or executive of the bank that issued the card, he will guide you on the ways and options you have to pay off your debt. After this you must stop spending with your credit card, otherwise your debt will continue to increase more and more.
Currently there are internet pages ready to help you pay off your debts, specifically those of credit cards, it is advisable to find out about this method. In the most extreme case, you could go to a lender , family member or friend who offers a low interest rate for paying off your debt with the bank.
Consequences of not paying a credit card?
The consequences of not paying a debt of your credit card really are nightmare. Well, the bank will begin to look for you intensely and ask you questions about when you are going to pay, after a while they will have the right to sell the debt you have to a collection office.
These will be responsible for paying such debt, they can harass you and even threaten, even if this is not legal , until they achieve their goal. The same can harm your credit history, which implies that other banks will surely not want to grant more credits in your name.