2023-10-26 15:04:10
The use of credit cards will be able to maintain the dynamism of consumption for this final stretch of the year, however, it is recommended that cardholders take the use of plastics in moderation and thus avoid reaching 2024 over-indebted.
More than 100 types of credit cards are offered on the market, which adjust to different types of needs and budgets. And although interest rates are high, Mexicans are increasingly requesting them more frequently.
“The task of choosing the ideal credit card may seem complicated and tedious, however, it is our right and obligation as consumers to investigate, compare and choose the ideal product that meets our needs,” according to Juan Luis Ordaz, director of Citibanamex Financial Education. .
Among the relevant aspects when requesting a credit card is the annuity and although many offer one of 0 pesos, the other point of attention should be the Total Annual Cost (CAT), which includes an interest rate, insurance and commissions , mostly.
For example, data from the Bank of Mexico (Banxico) as of June of this year reveal that some, whose credit limit exceeds 15 thousand pesos, offer zero pesos of annuity, but with a CAT that can exceed 100 percent.
Be careful with cash
Irasema Dagnini, economic analyst, recommended evaluating the cash availability that credit cards usually offer because they charge commissions on the requested amount.
“If you withdraw 3 thousand pesos, these will generate a charge of 208.80 pesos for commissions and VAT, plus an interest of 540 pesos just for making the withdrawal, because the real interest that the bank will charge will depend on the monthly payments in which the payments are made. payments or if it is covered in a single exhibition,” said Dagnini.
From Citibanamex they recommend taking into account income and debt capacity; consider the conditions of the product; take advantage of all the benefits; Be total, and review your account statement every month.
“By covering the total amount of your debt before your payment date, you will be financing yourself almost free of charge for up to 50 days. If you cannot cover the total amount of your debt, pay more than the minimum; if you do not do so, you will incur default interest which can amount to up to 120% annually,” Ordaz added.
What are they used for?
Of the different uses that Mexicans give to the credit card, its greatest use is in large stores and in retail sales, according to Banxico.
Dagnini urged cardholders to take advantage of the interest-free months when the disbursement is large, as long as these monthly payments do not exceed the budgeted amount of expenses.
In addition, he considered that “it is also good to have several cards because good management of them will allow you to have a good credit history, and in the future it will be useful to request a car or mortgage loan.”
#avoid #temptation #year #Financiero