Credit cards are one of the most popular financial products. They offer the possibility of obtaining loans in an agile manner, with sufficient capacity you can make purchases and pay obligations.
(See: How to request and activate the virtual debit and credit cards offered by Bancolombia).
Customers who purchase these cards must pay monthly fees along with interest, which vary depending on the period in which you decide to defer the purchase.
Thus, each month users receive a statement detailing the minimum payment required, the accumulated interest and the total outstanding debt.
Now, these cards can be used directly in credit card machines and shopping establishments, they also offer the option of withdrawing cash, known as advance, with the condition of paying interest on the amount withdrawn.
(See: Bancolombia and Visa expand contactless payments from smart watches).
But what happens if an advance on a credit card is not paid? Precisely, Juan Camilo Gómez, a finance expert, in dialogue with El País, assured that cash advances are usually more expensive than simply making a purchase with a credit card.
Credit card.
iStock
(See: Income tax return 2024: people who should not present it due to changes in the Dian).
For this reason, he recommends that in cases where little money is required, it is better to turn to friends or family, since the interest is very high. Typically, they are governed by the highest rate set on the credit card, generally corresponding to the limit defined by the usury rate.
On the other hand, if you request an advance, you must be aware that you must pay that money on the established date to avoid negative reports to the credit bureaus.
Please note that if you are reported and wish to leave Datacrédito, you must request it yourself as long as the debt has been settled.
To do this, it is necessary to write a document that includes personal information, reasons for requesting deletion and attach a copy of the identity document as verification of the holder of the request.
(See: Credit cards in Colombia with the best benefits for travelers).
SOFÍA DÍAZ RICO
Journalist Portfolio
2024-01-28 01:14:44
#consequences #paying #advance #credit #card
