5 Mistakes Most Often Against Credit Card Interest

5 Mistakes Most Often Against Credit Card Interest

When applying for a credit card application, most people only think about how to use the credit card as a pol once approved. They were not so concerned clutter terms and conditions of use, especially the matter of interest. Lack of attention to this interest led to an error when using a credit card. When one, the loss of course our own. Listen 5 mistakes most often made to the following credit card interest let me not lose:

1. Do not understand how credit card interest

Information workings of a bank credit card interest is always sent to the customer with the credit card. That's why many ignore it, because just itching to use a credit card.

Generally, banks charge credit card interest to us if:

    Payments beyond the due date

    The minimum payment or not full

    Paying less than the minimum

    Do not make payments

    Their cash withdrawal transactions

If you do not want to be burdened interest in bills every month, avoid the things above. The more frequent these things, the more swell our bills.

2. Not think of flowers when transacting

Can not be denied, credit card users in Indonesia often do gestun alias swipe cash. Whereas these transactions make the credit card bill increases. Not only must pay the debts of friction in cash, we are also obliged to pay off the interest.

Especially if you have more than one credit card. When the credit card limit is up, dipakailah second credit card to gestun. And so, the credit card is used solely as a means easy to get into debt. Though the benefits of credit cards much more than that.

3. Do not know how to calculate interest

According to the circular letter of Bank Indonesia, large monthly credit card interest rates of 2.95% and an annual maximum of 35.40%. Each bank interest calculation certainly include information on its website. We as consumers have to pay attention to these details in order to be careful in dealing and preventing manipulation of data.

4. Not pay attention to changes in interest rates

Banks as financial institutions are regulated by the government shall comply with the rules set by Bank Indonesia. Before exiting the circular of the maximum limit of interest on credit cards, banks are free to determine their own interest.

Once the circular came out, the bank would not want to cut rates. Which benefited from interest rate rule is certainly a credit card customers.

That's the case when interest rates fall. Bank Indonesia may raise interest rates this back boundary. By doing so, the bank must have flocked to participate increasing interest rates.

5. Originally select credit card

Between one bank and another bank has terms and conditions are quite different in terms of credit card issuance. There is a quick and easy process. There is also a long process and sometimes led to rejection.

But about this process is only one factor to determine which bank we are going to get a credit card. Many other factors must be considered, particularly the matter of cost.

There is an easy bank issuing the credit card, but the interest was high. But some banks are very careful to issue credit cards, but set a lower interest rate. So, choose where, can quickly credit card but the interest was high or patiently waiting but lower interest rates?

That's 5 common mistakes about credit card interest is often found in the community. Credit cards are actually created to facilitate daily transactions. But, if not careful use, a credit card can turn into a financial burden for us and the family.