The credit card is well known and used by Peruvian citizens and people around the world for being an easy source of financing to use when wanting to invest in their happiness and/or needs, but, although it is a plastic object that provides a range of advantages to its customers, there are still many doubts regarding its proper use. This circumstance triggers many people to carry out bad practices such as not paying their monthly amount. If that is your case, we will tell you what consequences this problem could bring.
What happens if you don’t pay your credit card on time?
If you have ever wondered what consequences not keeping up with your credit payments could bring, we tell you that these will not only lead to problems in the short term, but also in the long term, since all financial institutions will charge you something called a “credit payment slip”. These are some of the repercussions of not being up to date with your credit card payments.
- It affects your credit history.
- You can enter Infocorp.
- You cannot access new and better credits.
- It affects your ability to respond to an emergency.
People should consider their expenses when acquiring a credit card. Photo: composition LR/La República/Andina
What happens if I take a month to pay my credit card?
As we already mentioned lines above, being late in paying a credit card can have unpleasant effects for the user. When there is a delay in the payment of the debt, the banks can begin to charge criminal interest according to the conditions agreed in the promissory note. This will be applied daily from the day after your payment date expires.
How can it affect me if I do not pay my credit card membership? Photo: diffusion
How many days do I have to pay my credit card?
Credit cards offer a 30-day credit term. These 30 days culminate precisely on the cut-off date. The payment date, for its part, is the one that the bank gives you to pay your debt without charging you any interest. Therefore, if you pay the monthly contribution of your card on the same day of your payment date or any day before, you will not have charges to settle.
What is the best way to use a credit card?
These are some tips that can help you to use your credit card properly:
- Use the credit card in purchases that offer products for months without interest.
- Be punctual on the payment date and be careful with the amount to pay.
- Avoid using the credit card to have cash.
- Constantly review the account status.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
