More and more Peruvians use Credit cards. At the end of 2023, six out of ten Peruvians used this means of payment in their massive purchases and more than six million were issued by the banking system. According to the Central Reserve Bank of Peru (BCR), the Credit card loans increased last year by 10.4% compared to 2022.
According to him assistant manager of retail passive products at BanBif, Alfredo Marín, It is a very useful tool that allows visibility of the debt capacity to generate credit behavior and is the first product used to access the financial market, but you must know how to take advantage of it properly. Therefore, these are six tips you should follow to use your credit card correctly.
1- How to properly use the credit card?
Before applying for a credit card or if you already have one, you should consider that The money for this product belongs to a financial institution and you are borrowing itso it is advisable to finance only necessary expenses that you can pay at the end of the month without affecting your personal finances.
2- How many credit cards?
It is advisable to have one or two credit cardsa larger amount could put your finances at risk and lead you into debt.
3- Can I withdraw cash from the credit card?
You should never withdraw cash from your credit card, except in case of urgent need. The interest rates for carrying out such an action are usually the highest on the market. However, in some emergency situation you should consider paying it later as soon as possible, ideally in one installment.
4- Can I pay all my expenses with the card?
Many users usually Pay all your expenses directly with the card in a single installment at the end of each month, allowing them to enjoy benefits such as points, discounts on products and services, as well as promotions. Likewise, it It allows you to generate a good financial history.
Remember that the more installments you pay for your purchases, the more interest you will pay.
5- Is it better to pay the minimum or the total monthly consumption?
One of the advantages of having a credit card is being able to decide between paying the minimum or the entire month’s consumption. Nevertheless, It is best to be punctual with all payments to avoid incurring debt in the medium term.
6- Reschedule credit card payment
If at the end of the month you cannot pay the expenses you had with your credit card, it is advisable to talk to the creditor to find a rescheduling that adapts to your income.
He most important requirement To use the credit card correctly and access the benefits, such as splitting a purchase or deferring your payments, it is the order and discipline to avoid falling into debt.
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.
