If last month he did not hold back and bought everything he wanted, most likely this month the fee he will pay for the credit card is much higher than he is used to. And if the purchases were deferred to more than one quota, it means that you will have to live with that debt for several months. How to solve this problem?
Pay attention because in 5 steps we will eliminate those debts once and for all, and incidentally commit to using the head every time we pay with the card.
Perform the calculations well
With the account statement in hand, write down each purchase you made and how many fees you will have to pay for it. In addition to knowing how much you are due for the month, you should know what the total debt is.
Pay more than the monthly fee
Once you are clear about how much money you owe, set out to pay more than the monthly fee to finish off the debt in less time. It would even be advisable to cancel the total debt of one requesting a loan with a lower rate, but if that option is not very viable, paying 20% more of the monthly fee will help.
Purchase of debt
This option is recommended if you find an entity that offers you less interest rates and also if the purchases you made paid for with several cards. It is better to have all debts in one, thus saving commission costs, insurance, etc. The important thing is to identify which bank offers you a lower interest rate and more benefits. For that you can use Mr. Cotto’s card comparator (by selecting the debt purchase option).
Reduce your credit line
You just have to approach your bank and request this option, so while paying the debt you maintain, you will ensure that you do not fall into more.
Set a limit for your expenses
Ideally, do not consume more than 40% of your credit line monthly, unless it is an important purchase. So write down the total money you can spend and also write down EVERY EXPENSE you make with your card, you will know when to stop and when you can pay one more tablet.
Follow these tips and leave that debt behind.