Credit cards have become the inevitable companions of many Colombians. Either in person or online, in most cases they are used every month, but not always in the right way.
Over the years, plastics have been demonized in such a way that many myths became popular and many people ended up believing them to this day, which has had an impact on the way they use their card, causing them to Get more expensive than you thought.
The best way to combat them is information
That way you will know what is true and what is not, and will change your habits. Then, two ways in which Colombians act with their credit card and that have been caused by the thousands of myths that revolve around them.
1. Believe that you must respect the number of fees
Many people think that as financed in 5 installments, you must cancel the purchase yes or yes in five installments, respect the dates and not cancel it before. However, this is not true. There is always the option of making advance payments or even canceling the total debt, which is a great alternative if you receive extra money.
2. Think that the minimum amount will always be fixed
The rumor has spread that the minimum payment will always be fixed, being established according to a percentage of the total amount owed. However, this is not so. The minimum payment will vary month by month because all the uses you have made of the card, as well as commissions, insurance, etc. must be taken into account. Do not get carried away by this and always calculate what you should pay.
Better benefits and / or interest rates
Remember also that you do not have to be stuck with the same card at all times, as options constantly appear that can offer you better benefits and / or interest rates. Ideally, from time to time compare the alternatives and for that, you can always use Dorothy’s comparator.