Credit cards can become your best ally or your worst enemy, depending on how you handle them. Here I present what would be the main aspects to manage your plastics in an impeccable way in 2021.
1.- Is it convenient to have a credit card? Definitely yes, as long as you can control yourself. You have many advantages, such as recording your transactions; stop using cash; resources for contingencies; buy online and abroad; travel in comfort; gifts for their use and even free financing.
2.- How do I do so that they do not charge me interest? Always pay the balance to court in full and thus you will have zero costs for borrowing.
3.- Is it good to have more than one card? Yes, because you could “play” with your cutoff balance and take advantage of a longer leverage time without interest. Also, if for whatever reason one of them is cloned, stolen or not admitted, you have another to get out of the way. Just watch the cost of annuities.
4.- What is the best card? That depends on the use that you will give it, as they each have different costs and services. Now, if you are one of those who do not pay the entire balance at court and get into debt, according to the Bank of Mexico the highest rates are held by BanCoppel and Inbursa, while the lowest are by Banregio and HSBC. For services, large institutions such as BBVA, CitiBanamex and Banorte could be good alternatives.
5.- Is it recommended that a student have a credit card? Yes, you can limit it to avoid overuse, but it is very valuable for any contingency and it is also a way to learn to manage your money in a controlled way.
6.- Is there a risk in having a credit card? Yes, but you can minimize it with various actions, such as never losing sight of the plastic; report it immediately if it is stolen; and review your charges every month. In general, if the report is made on time, the issuing bank compensates and it only remains in a cumbersome process. Also be careful with phishing that are hoaxes through the phone or mail.
What other questions do you have about a credit card? Comment me on Instagram: @ atovar.castro
Twitter: @albertotovarc
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