Introduction Of 7 Things To Consider Before Ordering A Credit Card
7 Things To Consider Before Ordering A Credit Card. Today we are going to write seven things that you should take into account before ordering a new credit card we have new credit card proposals with more benefits or 50 of handling such as the Novak fast card and many others and The truth is that it is always very interesting to analyze whether these cards they are worth it or they are not worth you always have to take into account certain recommendations to make it a good decision get a card and here is the first one and the first reason is simply wondering why you are going to get this card the vast majority of people buy a credit card simply.
It is a trade and sometimes it doesn’t even end up being
Because of advertising so its promoters say it is a trade and sometimes it doesn’t even end up being that much of a benefit to that person in my case, for example, does not affect me to pay the fee to drive a card if the benefits outweigh the fact of having to assume that cost if what I have in return is much more then at a person who suddenly does not have clear accounts tells him that the card does not you have a handling fee and it was automatically sold to you because you probably then that person makes a purchase several installments and ends up paying interest is much more than what you would pay in installments regardless.
This is what you need to ask yourself, will it be that you need that card to get into debt because you don’t have money and you have to buy something in installments this is a sign that is very important to identify because it is probably not a good idea to acquire debts especially if it is for something that is not necessary or of survival will be that you are struck by the benefits you have made the accounts in terms of for example miles points or cashback how much is that you get there are times that through what are the programs loyalty and rewards or Ruiz words because they simply offer you something simple for the purchases.
If you use the card the more the lights the more you can earn either points to miles and then when we analyze points or miles sometimes for example with the program of Easy Colombian points and that’s it, each point is worth seven Colombian pesos then we can simply multiply if I have ten thousand points I have seventy thousand pesos or something like that so when you do the conversion and it says ok how much do I have to spend to earn that amount of points there is one, for example, the highest category cards in Bancolombia give you approximately 1.27 percent cashback cash in points so than a 1 percent card if it is not so complicated to obtain as it was almost the same and it will simply benefit you in the sense that you do not you need to use some strange program points because simply to get the benefit.
That you should take into account is how is your credit history
I like because to buy gasoline market in success and many other things but you always have to do the accounts to determine if the benefit makes sense to you or not Second that you should take into account is how is your credit history their cards that are very demanding and if you don’t have enough credit experience, for example, several years of managing different credit or diversity products in your portfolio or something else because They simply won’t give it to you, some cards require the highest possible level of credit experience others are higher so that it is your first card and that you can start your history credit with them.
But they are much more former houses and probably have other requirements such as job stability demonstrable income and many other things is to keep in mind that the vast majority of banks and Critical entities do not like that you have obtained a credit product in the last three months such as another card, therefore, you should have those three months clean and free of new products you should not have never been in arrears or paid late or simply paid out of date due date because that leaves you a mark that they can see in some time and of course you also have to analyze what the state is current of your credit products your percentage of utilization of the quotas.
How they do their revolving or vehicle credits if you have it, for example, you just of acquiring a mortgage even six months ago but you have it practically new and have recently started paying many of These things to influence when it comes to having a credit product and if you have a much more solid and robust profile that allows you to give yourself between quotes because the idea is not to mess with credit cards because they will approve much more easily thing number 3 you want to take into account is wondering if this card will affect you for others credit objectives you have if you want to get a product such as.
A mortgage loan or a vehicle loan
For example, a mortgage loan or a vehicle loan, the safest thing is that should completely give up the idea of getting this new credit card credit because if after taking out the credit card you will want to obtain a product of those because it is simply going to affect your ability to indebtedness and it will affect you in the residence or that is to say, how You have recently requested new debt or credit quotas and also the ‘number four’ how is your debt capacity so much before asking for the card how to ask you how that debt capacity is going to be after requesting it and the ability to borrow and a video about it where we do the accounts but we take into account.
Which ones are your income how much can the monthly installments remain and therefore what is the global maximum healthy quota that makes sense for you to get and which is the current quota that you have, so if you have something available then for example if your income were 10 million pesos to say which are like three thousand dollars or something similar and we talk about 30 per maximum percent you can go in monthly payments or other words three million three hundred thousand dollars or something like that, how much would that quota give us as such a global suppose to do some accounts and happy because it does not.
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I am clear about the number that was 50 million pesos or 17 thousand dollars and that you already have about 10 thousand pesos or 35 million in space so there we can say that you can borrow to acquire a new card for about 15 thousand dollars with five thousand dollars for something like that or 15 million pesos Tennessee that now you already had a lot more quota of those already you were 80 million quotas or something like that or 20 something million I already lost myself because.
When they were going to do the math, they would tell you
I simply would not do you and when they were going to do the math, they would tell you, we will not test it for indebtedness because you cannot borrow so another is the certain success of the test and you acquire that new quota and then you completely break your debt quota when trying to see A new card is going to be complicated for you to accept it, some entities are easier for you to get a new quota than others but it is always important to take into account how you are before and how you are going to then number 5 and for the same reason if it is possible to decide what is the quota that you are going to take sometimes we just want to take a card of the maximum quota that we can get and some people suddenly feel good saying.
I have 200 million cards good great that’s very unusual very cool admirable but what is the sense what is the use I, for example, have had cards of very good quota that I use them in my business for investment in advertising for I find large movements, which case, obviously, is simply a tool that allows me to achieve a goal is not something I use as such to show off to other people and that for the Otherwise if for example, it were a supermarket card like some Well, it makes no sense to have a 20 million quota or $ 6,000 quota in a card that is only to be used to buy a supermarket because so much it can be a temptation to have a production come up at some point of something.
That you were not thinking of buying but that the quota reaches you as well as in case of fraud because they will get much more money from you and it is better for the cards other than your main card the one you use for things to Everything then that simply has an unlimited controlled quota that allows you achieve what you want to achieve with that card but keep it as low as possible also it will not affect your debt capacity so much, well also similar With the previous point you have to ask yourself this is going to be your card primary or secondary credit or what goal that card will meet to you have to put those bank projects to work for us, no we should not pay interest some benefits are irrelevant or characteristics that are irrelevant such as the interest rate if We always want to pay a fee.
Some people suddenly say I’m going to get the success card
But some people suddenly say I’m going to get the success card or the Falabella card or the Olympic card or such a card because at some point a promotion may come out that they sign me I like and with that, with that card, I can get it if you don’t have clarity at this moment how to use the card you should not ask because it does not make sense that you consult credit risk centers that affect you directly your implement capacity and what is it with plastic and ready to do purchases and that you are not going to use it as much fraud can occur in Colombia it is very common for fraud to occur even from internal persons of these entities in where they sell your credit card numbers and you can have.
It stored in a drawer and then you find shopping and it is also very common and if you are not going to use the card you should not have it or if possible at least have it blocked but there are people who, for example, eat the story that the benefit is that they do not charge you a handling fee if you do not use it and So why have a credit card that will charge you if you use it? or why have it if you are never going to use it honestly but I do not see any meaning it would only be as if a promotion where the discount you get less the handling fee is equal makes sense and is something you would like to buy but even in those cases you can order.
The card there the moment you go to make the purchase You do not have to ask for it eight months in advance, then it is about to be a little bit smarter in that sense and finally know what they are the true costs, for example, the interest rate what I was telling you can that is relevant to you if you plan to use it to compare purchases in installments no I recommend it because there are many better options to buy in installments with much lower interest rates than those of credit cards are the highest possible in my case because simply when I am going to have a card this is an irrelevant metric because I never paid interest on cards credit then but this is a cost that.
I do not even analyze can be the highest can be medium it
I do not even analyze can be the highest can be medium it does not matter but if you have to analyze as per example what are the driving fee conditions, In reality, some cards charge you insurance and only charge them from a certain amount of debt, that is, for example, a card if you owe less than a million pesos or 300 something dollars do not charge you insurance but when you exceed this amount in debt they start to charge you and they charge you proportional to the amount you owe and this is not directly stated in their promotional materials are over there the small print you have to inquire all those things some cards offer you benefits such as insurance and home assistance to the car many things but they do not tell you that they have costs deductibles, for example, the house charges until.
The last time I knew about 75 dollars to be able to use some of the insurance and there are times that the benefit who do not have insurance is worth less than 75 dollars so you have to see these costs if they make sense not compared to the benefits advance costs, for example, I do not recommend that you never make advances but If you plan to do them, you have to know what progress has a cost and what generates interests from the first day do the accounts well and know if it makes sense and of course the costs there are cards that charge you when the transaction is rejected due to lack of quota of these that they charge you I do not think that no longer but they charged before to check the balance in an ATM there are cards that They charge you for the least amount, there are even some.