Tips to pay less commissions on credit cards

Tips to pay less commissions on credit cards

We know that one of the payments that weighs the most in financing, far from interest, is the commissions on credit cards. Why? These happen because we are used to hearing that as soon as we are granted financing and this is used, certain interests must be paid, but… few banks emphasize the commissions, so it is not a expense of which we are too aware of What has I am done.

Commissions on credit cards

Commissions on credit cards

There are 6 commissions on the credit card for which you are surely not prepared. These are:

  1. Annuity
  2. Cash withdrawal
  3. Late payment
  4. Inactivity
  5. Additional plastics
  6. Plastic replacement

All of them could easily be avoided if appropriate measures are taken.

We teach you to pay fewer commissions on credit cards

We teach you to pay less commissions on credit cards

It is not about not having a credit card to avoid paying commissions. It is possible to have one, up to two plastics and not pay anything. How?

Easy! For each commission there is a possible solution:

Annuity

If you want to avoid this commission. Ideally, inform yourself before choosing a credit card and choosing cards that are without annuity or conditional annuity. This way you will avoid paying this commission every year.

Cash withdrawal

To avoid paying commissions for cash withdrawal from your credit card, always try to get the necessary cash to make your purchases.

Remember that on numerous occasions the cash withdrawal from the cashier also implies higher interest and a higher monthly payment.

If you do not like to load cash, you can choose to handle a prepaid card or even download the official app of your bank to make withdrawals from debit without a card.

Late payment

Late payment

Here there is nothing more to pay on time. Scheduling the cut-off dates and payment of your credit cards is the solution.

If you are not sure that you can pay your credit cards on time, it is best to evaluate your financial status and determine why it is happening:

  • Not enough to pay?
  • Don’t you have time to go to the branch to pay?
  • Forget your cut and payment dates?

Also, remember that if you learn to use the cut-off and payment dates in your favor you may not even pay interest.

Inactivity

Few cards handle this commission, but it exists and it is important that you determine if your card handles it. This commission requires that you make purchases or payments with your plastic for a certain amount per year or rationed in a certain amount per month.

It is avoidable, yes. and you can do it by directing the payment of some service with which the amount required by your bank is covered. This way you will be able to cover the requirement without buying something you did not have planned.

Additional plastics

Additional plastics

In some banks, the issue of additional plastics for your credit line has an expedition cost and also an annuity cost. Beware of it!

Find out what they cost and if the annuity payment is individual or is included in the annuity payment of your motherboard.

Now ask yourself, is the additional card necessary? If it is necessary for a family member to carry a line of credit that depends on you, they may choose to make purchases online or go to the store together, or look for card alternatives that do not charge this commission.

Plastic replacement

Plastic replacement

We can’t tell you not to lose the plastic to avoid paying this commission. But it is always convenient to load the plastic in safe places, if you are not going to occupy it, for example, it is not necessary to take it out.

As you can see, there are several ways to avoid paying too much for commissions on credit cards. We recommend you take into account the previous points and in the long run you will be able to realize that you save because you save.

Leave a Reply

Your email address will not be published. Required fields are marked *