How to choose a credit card?
More and more people in Brazil are using credit cards. With so many options on the market, it can be difficult to choose the one that best fits your needs.
Care in choosing the card:
- Choose the expiration date of the card next to the date you receive your payment;
- Research and verify which card is most advantageous to you;
- Be aware of the annuity amount. It can be free for the first year and then really expensive.
Types of Credit Card
It’s that card usually offered when you open a checking account at the bank. It is common to be credit and debit at the same time and the card limit depends very much on your bank profile and your salary.
is a partnership between the card company (Visa, MasterCard) and other brands. These cards usually have the highest annuity, but it brings more benefits to the customer of that particular brand. For example, TAM’s credit card accrues more miles and carries other advantages than a non-TAM credit card.
This type of card is great for those who do not want to lose control of expenses. It works like a prepaid cell phone: you put a certain amount on it and you spend throughout the month the amount you credited. No surprise invoice at the end of the month. Here’s how a prepaid credit card works.
What should you consider when acquiring a credit card?
Visa or Mastercard? Both have very similar characteristics and the choice is usually the personal preference of each. There are also other national flags, even less known, but which have many points of acceptance and are usually cheaper in terms of annuity.
You can have a bank credit card where you are an accountant or not. Many people do not know that it is possible to have a certain bank card even without having a checking account at this bank. Compare the value of the annuity and the interest, advantages and disadvantages and choose the best one for you.
National or International
If you do not usually and / or have no intention of traveling abroad or shopping on foreign websites on the internet, choose the national card. It usually has much cheaper rates.
The annuity is the rate you pay annually to use the credit card. Usually it is divided into 12 times and comes at the card’s invoice. Banks have the right, by law, to charge this fee. The cases vary: there are no annuity credit cards, credit cards that charge the annuity after one year and cards that charge annuity from the first use.
The institution determines what the limit of your credit card will be according to your economic profile, that is, your monthly income. But, not all banks will offer the same limit, this will depend on each bank.
Many cards give benefits to users. These benefits include: points to redeem products, discounts on goods, airfare, miles, minutes to talk on the cell phone, discounts on the annuity, etc. Compare the benefits before choosing your card. And be careful: usually the more benefits, the higher the annuity to be paid. Stay tuned!
The bank charges interest if you do not pay the bill or pay only the minimum amount. Each bank has different interest rates. These fees are applied per day of delay and the higher, the more you will have to pay the bank if you delay the payment of the invoice. So you should compare interest rates when choosing your credit card.