2023-12-31 05:46:22
Face the increase in spending that comes with January 2024 with the shopping for Three Kings gifts, can end up being suffocating. If you do not have cash to cover the disbursement of these first days of the year, you can ask the bank for a credit card with which to make purchases. However, before contracting, it is advisable to read the card conditions carefully since the payment methods may be different. In addition, some include issuance and maintenance costs.
He card payment It is present in most establishments and allows you to pay an amount from a Bank account to which it is associated and electronically. It is an instrument issued by a bank and in which the name of the entity, the expiration date, the name of the holder or the interbank network, among other identification data, are set.
But its use may vary depending on the type of card. Currently, there is a wide variety of cards with different commercial denominations and different functionalities. Among bank cards, the most common are those of credit and debit. They differ in that debit cards allow you to use the funds in the account holder’s account – checking or savings – to which it is associated.
With a credit card, on the other hand, it is possible to make payments or obtain funds, up to a certain limit, on credit – borrowed -. In exchange, the money must be returned within the established deadlines.. Regarding credit cards, the BdE reminds that “it has the same consequences as having any other credit or financing method: you are obliged to return the money and pay the established interest.” And the limit of available credit must appear in the contract. of the card.
Pay attention to credit card conditions
The type of card and the rest of its characteristics are included in the contract signed by the client and the bank. Like any banking product, The owner signs an opening contract with the entity, but before doing so, the Bank of Spain (BdE) recommends searching for information and comparing specific offers. “Knowing its main characteristics will help you hire the one that best suits you based on the services it offers,” he says.
And once you have chosen the card to be contracted, it is important to examine the contract in detail before signing, paying special attention to the interest rate applied and the commissions that may accrue. The entity is obliged to deliver the contract to you on paper or other durable medium and to deliver the card and secret key to you through procedures that ensure security and privacy.
The owner must keep the signed contract, along with subsequent communications if the conditions are modified – which will come into force after two months. The Bank of Spain also indicates that the settlement documents and supporting documents for each payment or withdrawal of funds. In that sense, he states that “reviewing them carefully will allow you to detect possible errors or discrepancies.”
Cancel a credit card
Just as the card is contracted, the holder can request its cancellation unilaterally. It is enough to communicate it to the entity. Of course, the BdE recommends make this communication in writing and warns that cancellation may entail a cost. The client may be informed about the possible commission in the contract itself. If it does not appear on that document, the bank will not be able to charge you for canceling the card.
Although the client can cancel the card, it will be effective at the time of the request as long as no advance notice has been agreed. If the contract includes the condition of giving notice with a deadline, you will have to wait the agreed time. For its part, since it is a contract of indefinite duration, both parties have the possibility of terminating it unilaterally. The bank itself can also do it. In this case, it must be based on objective causes and must be previously communicated to the cardholder to avoid unnecessary harm.
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