Las Credit cards (TDC) are a means of financing granted by some financial institutions, that is, it is money lent in exchange for a percentage of monthly interest, and it is not a bad thing to resort to them as long as their operation is well known, explains the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF).
Did you know that with your TDC you can finance yourself for up to 50 days without paying interest? This is one of the greatest benefits that credits offer, it is only necessary to understand the cut-off and payment dates to organize purchases based on it.
In accordance with citibanamex, both the cut-off dates and the payment date, appear on the account statement, generally at the top, also another option to know them is to contact the bank directly to request the information. But what are these key concepts?
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The cutoff date It is the first important term that should be remembered, since it is when the institution makes a cut to calculate the debt of the purchases made in the last 30 days, and thus define the minimum payment and the amount of interest that must be paid. This is the day that the bank establishes to mark the end of the month of purchases, as well as the beginning of a new one.
The payday limit It is the second term that should always be kept in mind, because it will be when the payment must be made to avoid falling into arrears. Normally it is 20 calendar days from the cut-off date.
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To understand this concept a little better, imagine that every 7th of each month is the cut-off date and that the deadline to pay is every 27th of each month. Now, if we choose the month of January as a reference, it means that all the purchases you make between January 8 and February 7, would be included in a single account statement. So you would have until February 27 to pay the amount generated.
As can be seen, if what is needed is purchased on January 8, there will be 50 days of financing, and these will decrease as the days go by, that is, if purchases are made on January 9, there will be 49 days left. days of financing, if January 17 is used, 41 days will remain, and so on.
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CONSUDEF recommends paying interest on the credit card, that is, fully paying off the consumption before those 50 days expire, before the payment deadline.