When choosing a credit card you must be clear about what you want to do with it and how it works, especially if it is the first time you will process this financial product.
In the world, there is a growing tendency to stop using cash and, instead, have a card to make purchases. However, many are still afraid of acquiring a credit card.
You must be careful when purchasing them because although the market offers a range of more than 150 alternatives, considering bank and commercial cards, many of these mention you the benefits and not the charges and interests they charge you. That is why there are a series of selection filters that can help you identify and analyze the aspects that are relevant to you.
The National Commission for the Protection and Defense of Financial Service Users (Condusef) points out that the classic card is still the main product, and represents 68.8% of the number of plastics in the market, that is, six out of 10 cardholders leave for the bank’s star option, even when there are special cards for those who travel, buy at certain stores or need a shield because they have a very high credit line.
All serve the same but are not equal. There are several aspects, from the interest rate, the minimum opening cost, payment facilities, commissions, to the profile that fits your age, income or buying habits and debt.
Here are some filters, identify which or which are the most important for you or the most relevant:
Your consumption habits
Define the use that you will give to the card, if you use it only for an emergency or for a promotion to months without interest or with special discount, choose one that charges a low annuity or that does not apply. The objective is to have a card for eventual use that generates the lowest possible financial cost.
If, on the other hand, you want to use it to pay all your purchases and consumptions for the month every day, analyze the annuity but also the commissions and costs applied in the operations you carry out. Additionally, pay attention to the rewards.
It is important to consider the salary you have to be able to choose the type of card you can have, as well as to define the line of credit that you can handle according to your finances. In addition to that it is unlikely that the financial institution will grant you a gold or platinum card if your income is, for example, 10,000 dollars per month, because the line of credit depends on the income of the applicant.
You must identify what you spend more and how often. For example, if you have to travel regularly, it is convenient for you to grant flight miles with each purchase. Another example is cash refunds for your purchases, so you can pay with your credit card without generating a debit balance or disposing of your money. Others are the loyalty and reward programs offered by some financial institutions.
Your credit history
If your credit history is positive, you will surely have no problem requesting another card or any other credit. It should be noted that the credit bureau is an important reference for issuers to know your payment habits, and in that sense, they grant you a lower or higher interest rate, depending on the compliance you have observed over time.
The cost of the card
The Total Annual Cost (CAT) is an indicator that includes the interest rate, the annuity and the commissions that an issuer charges for its customers for the card. Try not to base your selection only on this indicator, since it does not include all the commissions and costs that you can incur according to your payment or consumption style, to mention just a few.
Dottore offers you payroll credits, without the need to have a credit history or a guarantee, the procedure is simple and without the risk of forgetting your collection dates, since the payment is made automatically to your payroll receipt.