Credit card: in how many installments to pay for a purchase?

Credit cards can be very helpful, but they can also complicate things when they are not used correctly. How? For example, among the most common mistakes is the number of installments set for purchase.

It has surely happened to you that when making a payment with your credit card, you are not sure how many fees to allocate to such a transaction. Fortunately, the credit information center DataCrédito shared some tips that start from a quite practical premise: the term to pay should not be longer than the time that the purchased goodwill last, and following this logic there are some tips that you could apply based on your financial possibilities:

• In 1 installment: entertainment services, expenses in hairdressing or barbershop, consumption in restaurants and supermarkets, and transport.
• From 6 to 12 installments: purchase of clothing, footwear, accessories, and the like. Also vacation expenses.
• Up to 24 installments: computer, tablet, or a new cell phone, taking into account its duration and expected useful life.
• Up to 36 installments: long-lasting furniture and appliances such as a refrigerator or washing machine.

Now, if it is within your means to pay directly for the product, do so so as not to be obliged to cover interest. If not, plan your number of installments in advance so that you do not have to decide at the same checkout in the store.

Other recommendations for using a credit card correctly  :

• 1. Try to pay more than the minimum amount of the monthly payment.
• 2. Ideally, use your credit card and pay instantly.
• 3. If you have problems paying the debts incurred with your credit card , approach your bank or financial institution to find a way out.

By using your credit card, you will also have to make these payments:

• Annual membership. It is a legally permitted charge, the amount and frequency of which must be stated in the contract you signed to obtain the card.
• Credit life insurance. Its purpose is to pay, at the time of the insured’s death (or in some cases due to disability), the debt that it owes to an entity of the financial system; so as not to transfer the debt to a family member.
• Sending physical receipt. If you indicate that they send you the receipt by email, you can save between S / 3 to S / 12 per month.

When to pay off credit card debt?

If you are going to get into debt for a loan or credit card, it is advisable not to put the payment date glued to the 28th, 29th, or 30th of the month. According to Yanina Cáceres, Sentinel’s Business Director, the payment date must be set for the 5th, 10th, or 15th of the month.

“ If they pay you 30, don’t wear 10 or 15 because by then you’ve already spent everything. In that case, put your payment date on 5. The idea is that they have a break after they receive their salary, “he told Management.

It has surely happened to you that when making a payment with your credit card, you are not sure how many fees to allocate to such a transaction. Fortunately, the credit information center DataCrédito shared some tips that start from a quite practical premise: the term to pay should not be longer than the time that the purchased goodwill last, and following this logic there are some tips that you could apply based on your financial possibilities tips that you could apply based on your financial possibilities.