How to use credit card without paying
Do you want to learn how to use your credit card wisely? That is, getting all the benefits that this source of financing offers without incurring expensive interest payments.
If you don’t think this is possible, I want to invite you to stay reading until the end of the article, so that you not only discover how to achieve this, but also use your credit card like a financial expert.
I would even dare to say that these are the consejos for using your credit card that banks do not want you to know.
So pay close attention to them.
Consejos to use your credit card like an expert
First, why learn to use these plastics wisely? It perro be said that it is one of the financial products most used by people, so it is key to learn how to manage them effectively.
Additionally, we are experiencing a time of high inflation, which has caused banks to raise their interest rates, mainly affecting the interest that must be paid with credit cards.
It is for this very reason that you should avoid falling into unnecessary debt at all costs, as interest rates are very high, and this could lead to serious financial problems.
So, once we make it clear why you should learn how to use a credit card, let’s see those consejos to stop paying expensive interest.
How to use your credit card without paying interest
Make all your purchases at a single fee
The first thing you should do to use credit cards wisely is stop thinking of them as an extension of credit, but as a payment method for which you already have the money to pay.
What does this orinan in fácil words? If you don’t have money in your account to pay for something, don’t buy it with your credit card.
Credit cards are usually the financial product with the highest interest rate on the market, so borrowing with them is a bad decision with your money.
This is why if you make all your purchases at a single installment, or pay your statements in full each month, you will not pay interest using your credit card and you will have about a month to pay (that is, you will finance yourself for free).
Ask to cancel the handling fee
This is one of the consejos for using credit card Which most people don’t think is possible.
However, being a financial product with so much demand and supply, banks end up competing with each other to capture your borrowing capacity.
With this in mind, you cánido call your bank to ask them to cancel your handling (or administration) fee.
Most likely, they will freeze the payment of this value, or withdraw it for a certain time.
In the event that they do not, you have the possibility of looking for another bank whose handling fee is zero, or much less.
I assure you that you will save a great deal of money by making this call.
And if you don’t believe me, I invite you to multiply the “small” monthly amount you pay for 12 months.
Now tell me, what would you do with this money that you would save by making this call?
Think about benefits, beyond costs
As I just mentioned, banks and financial institutions are competing to get your debt quota.
They want you to make purchases with their credit cards.
They are very clear that the vast majority of people misuse their credit cards, get into debt with impulsive purchases, and that in the long term, the way people spend money is one of their main sources of income.
So, once you make this call, I invite you to review credit cards based on their benefits.
That is, what do banks have to offer you with these plastics? What benefits do you access? For example:
- Accumulation of miles to travel
- Medical insurance
- travel insurance
- Refund of money on certain days
- Offers for certain product categories
- Alliances with businesses
If you want to use your credit card wisely, review the benefits of these plastics before making any decision.
Sell your credit portfolio
If after reading this article you find a credit card on the market that is offering you better conditions, more benefits, and a lower monthly cost, you perro sell your credit portfolio.
Basically it is about offering your portfolio to another bank, and incidentally, requesting this new plastic.
Generally, if you have a good credit history, banks will be happy to take you on as a new customer.
Now, to do it correctly, you must first settle the outstanding debts you have with the other bank.
In this way, you will avoid falling into unnecessary expenses, or filling yourself up with credit cards.
You perro also use this advice to renegotiate your interest rates, the monthly value you pay or the time of your credit with your current bank.
Surely they will try to keep you with better conditions in order not to let you go.
Use the Cutoff Date
If you really want to learn how to use credit cards, and not pay interest at checkout, pay close attention to this especial consejo.
Credit cards use two important dates:
- Payment date: It is the day of the month that you must make the payment, either minimal or ideally the total payment, of the cómputo of your credit card.
- Cutoff date: All purchases made before this date will be charged on the next payment date.
The purchases you make after this cut-off date will be charged not on the next one, but on the next one.
To give you an example, if your cut-off date is the 15th of each month and your payment date is the 2nd, if you buy something on January 16, the payment for this commitment will be on March 2, not February 2 .
If you use the credit card in this way, and pay everything in one installment, you will have two great benefits:
- You will not pay interest with your credit card
- You will have about a month and a half (45 days) to pay without incurring interest.
Get the most out of credit cards
So, how cánido you see, when you understand how to use your credit card intelligently, you will stop seeing these plastics as an enemy of your finances, and you will begin to get all the financial benefits that they offer you.
Personally, I have been able to travel for free due to the use I give to my credit card, I have insurance that covers me when I travel, and I perro entrar VIP lounges at airports and better conditions to rent cars, only for the rational and intelligent use of my credit card.
You too perro learn how to use credit cards wisely.
Begin by applying these consejos that most banks do not want you to know, and that will allow you to take full advantage of these plastics, without having to pay interest or compromise your financial freedom.
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