10 tips on how to use your credit card wisely
Today it's getting easier and easier to shop. Therefore, it is important to know how to use your credit card with conscience. Understand in this post.
Category: Cards
Knowing how to use a credit card is essential to ensure the efficiency of your personal financial planning, avoiding debts in your name and possible charges by the card operator.
In general, this purchase feature is very practical and safe, as having one in hand, there is no need to carry cash. In addition, the credit card allows purchases to be paid in installments, which is advantageous when done consciously and responsibly.
With that in mind, we've created this content with 10 tips on how to use your credit card prudently. Check out.
1. Set a purchase cap
In order not to get out of control and spend too much, set a limit. The recommendation is to survey your income and determine a maximum amount to spend monthly, that is, the maximum amount your invoice should have per month. Afterwards, just record purchases so you don't exceed your spending ceiling .
2. Understand interest rates
Many people can acquire debt by not understanding the concept of card interest rates. They are nothing more than the amount charged for borrowing money via credit. The problem is that, in this modality, the remuneration charged for the credit is one of the highest in the market. And the fact of not paying the monthly bill in full will make the debt even bigger.
3. Remember to settle the invoice
With so many product and service bills to pay every month, it is common to forget to pay some. The problem is postponing the credit card payment. So don't forget the expiration date . You can set up reminders on your mobile phone to remind you to pay your monthly bill. Also, choose a date that is compatible with your salary receipt day to avoid delays.
4. Read your card statement
This may even seem like an obvious practice, but many people neglect it. The invoice presents records about purchases made during the period, to keep an eye on, as there is the possibility of identifying amounts that were not applied correctly, reversals that were not carried out, or fraudulent transactions. So, if you don't check the invoice carefully, you won't find these errors. A digital account solves this demand efficiently , as this information is in the palm of your hand in real time.
5. Be careful with unnecessary and impulse purchases
It can be difficult to control the impulse when walking into a store or receiving an unmissable offer, especially when the word “sale” appears in the campaign. So, before you go out spending on what comes ahead, consider whether you really need these products or services.
If you are in an e-commerce, before completing the purchase, leave the items in the cart and do another activity to think carefully. This moment is crucial to not allow your desire to buy to dominate you. By taking that time, you do the math and analyze whether it's worth buying or not. Rationalizing is the best way to have self-control.
6. Pay attention to installments
Whenever possible, buy in cash . When there is the possibility of paying in installments , we are involved without noticing the risk of this decision, as it compromises not only the income, but also the limit of the card corresponding to the months in installments.
And this can generate a snowball, as installments can accumulate with other accounts.
In that case, the tip is to save money to purchase the product at once. Or, you can make an exception for installments through financial planning to always have the value of the installments available until you pay off the goods.
7. Know and negotiate the fees charged
It is common for us to be unaware of the billing fees issued by card operators. Annual fee, emergency limit increase, balance/statement inquiries, withdrawal from an accredited network and duplicate card are some of the services that may be charged.
Therefore, before choosing a card, analyze all the possibilities and find out about the embedded costs. Plus, always do research and compare cards to understand which card is ideal for your spending profile.
8. Buy online only from secure sites
Untrustworthy websites can trick people and steal card data. With these records, cybercriminals are able to buy things with your card, and getting that amount back is possible, but it is a bureaucratic practice.
To avoid this issue, investigate the web store end-to-end . Raise details like:
-CNPJ;
-Company name;
-e-mail and telephone contact;
- address of the company's headquarters;
- lock icon in the browser bar;
-reputation of the store in Reclame Aqui .
An interesting tactic to escape scammers on the internet is to use the virtual card. It works like a digital copy of your card, with the three-digit security code (called a CVV) changing every 24 hours. Thus, if your data is hacked, it will not be possible to complete any transaction.
9. Avoid having too many credit cards
Having a collection of cards can make keeping track of accounts difficult . It is difficult to keep track of all deadlines and invoices. There will be many payments to be made, in addition to this creating confusion about which card has an available limit.
This condition has a different weight for each person, but if you have difficulty controlling it, it is a sign that you already have too many credit cards. So be careful.
10. Report undue charges
Contact the card issuing brand if you identify improper purchases, regardless of the amount spent . Criminals specializing in data theft sometimes make small purchases to confirm card validity. Then they make larger purchases across multiple sites and services. The issuing companies have an exclusive ombudsman to deal with this type of occurrence. Therefore, it is essential to notify the occurrence immediately.
Put these tips on how to use your credit card into practice to take advantage of this financial resource efficiently and safely. Finally, it is worth mentioning the importance of avoiding paying only the minimum invoice. By doing so, you “borrow” the remainder of the amount charged. Thus, the bill for the following month will have the expenses for that month, added to the amount of the previous bill plus interest, making it difficult to pay in full.
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