Economic conditions have not changed, the cost of credit remains high because it is not possible to fully counter the pressures inflationary and Peruvians have to bear more expenses to cover their needs, said Arturo García, professor of TO SAY.
Along these lines, debtors are using their plastic to top up their budgets, though they should be cautious with their debt this year as fears of a global slowdown continue, he said.
The customer must use their own intelligently credit linesallocate it only to the current expenses of the month and pay the total at the end of this, agreed Jorge Carrillo Acosta, a teacher at the Pacífico Business School.
Therefore, he recommended having a maximum of two Credit cards with lines that do not exceed three months’ pay.
“Having very large lines of credit (exceeding three salaries) that are not used is like having a loaded gun, it is maintaining a potential debt that becomes real in the face of difficulty, putting the debtor at risk,” he warned.
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Meanwhile, García commented that, in this scenario, it would be healthy to have a single credit card with a line up to even two paychecks.
Plastic should only be used as a means of payment, so gas, restaurant or supermarket payments would need to fit into your monthly budget to be covered by your salary, he specified.
“If the client has an available line of more than two, or at most three salaries, the risk of get into debtwhich is no longer financially sound,” he warned.
Specialists agree that some users with large credit lines would use them not only for current expenses but also for long-term debt, which does not necessarily represent an investment, and choose installment payments, which makes this financing even more expensive.
As regards the origin of the cards, the teachers agree in giving precedence to one from to banking institutionin order to associate it with the salary account and obtain certain benefits.
Should a second plastic be required, Carrillo recommends that it be from a trading house to take advantage of department store or mall discounts when needed.
“If the customer wants to take advantage of discounts from other trading houses, they need to work as a team, coordinate with their family so that each member has a different membership card, and support each other in their purchases,” he added.
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