Nowadays, is having a credit card a facility, but also the nightmare of many families. After all, if do not for the chosen card The right, making a use Aware of this John Said, which could be a help to close becomes a Significant life Shortly. The interest charged to Brazilian consumers who do not fully pay the credit card charge reaches a staggering 480% per year. That is, n Od to play with that kind of credit, right Follow our article, know a little more about the differences between the types of cards and know what You need to consider when choosing the best credit card for you!
Know the types of credit cards
Today, there are several types of cards on the market. Know their differences and benefits The first step is to choose the best credit card for your profile.
- Institutional card: this one the card that banks usually offer to account holders who have just opened their account. Generally, they have credit and debt functions, and their limit is directly related to your account holder profile and amounts moved into account.
- Prepaid card: ideal for those people who want more control over their financial life. Its operation simple: just load an amount on the card and spend, over a period, what was credited. No fright at the end of the month!
- Co-branded card: these are partnerships made between credit card brands (eg Visa, Mastercard) and other brands. These cards, in general, have a higher annuity, but they can also offer more advantages than those offered by banks.
Points to consider when choosing the best credit card
1. Know the issuing bank
If you do you intend to open a bank account or simply request a card from a bank where you do not account holder yes, that possible! , try to know the advantages and disadvantages that it can offer you: fees, loyalty programs, interest, and current account annuity, for example, are essential points to be evaluated.
2. Choose your card’s flag
Isn’t that one more decisive factor when choosing your card, already that the most well-known options (Visa, Mastercard, American Express, Elo, among others) are widely accepted in the main chains across the country. Remember, however, that the amount of the annuity may change according to the chosen flag.
3. Define if you go need a national or international card
Before accepting that Tempting the manager to purchase an international card, evaluate whether you will you really need this type of card, or if a national responds better to your purchase profile. Tip: only consider buying an international card, which generally has more expensive rates, if you travel abroad a lot or shop frequently outside the country. Some banks release the international function on their national card for a few days if they travel at any time or make a purchase.
4. Find out about the card’s annual fee and interest rate
Banks are, by law, entitled to charge an annual fee for using the card, the so-called annuity. However, this amount may vary according to the financial institution, and/or the card. So, ask yourself before hiring the service to not be caught by surprise already. in the first month (or year) of use. In addition, clarify all points about interest rates charged if the invoice is not paid (or by the minimum payment). This interest can also be higher or lower depending on the bank. So keep an eye out and choose the best card for you!
5. Know the limit of your card
Is the maximum amount that can be spent on your credit card determined by the bank, according to its economic profile and monthly income. Confirm your limit together financial institution before purchasing your card. If you think he is too high and that this may be a temptation to spend, ask the bank to decrease it. Want more tips for choosing the best credit card Leave a comment with your question!