Using the promotions of months without interest can be an excellent option, however, you should be aware that not because purchases are installments are free, or that by making smaller payments you are allowed to do many at the same time, which in the end will generate A great total.
First of all you have to think about your purchases and not to exceed, remember that credit is money sooner or later you will have to pay.
A confusion among buyers is that when checking their statement consider that within the minimum payment are included the monthly installments of their purchases, in fact to the minimum payment must be added the monthly payment of purchases.
If you are the one who paid the minimum thinking that you did not generate interest, let me tell you that with this you threw away the benefit that represented you buy in installments. Due to this confusion the Bank of Mexico established that as of March in the statements of account cardholders will see three items:
1. the minimum payment;
2. payment for not generating interest and
3. Payment of purchases at months without interest or minimum payment plus months without interest
With this measure established by Cristina Cacho, card director of HSBC, consumers will be very clear what they will have to pay and will not generate unnecessary charges.
Important.
The minimum payment is one of the ways in which you can return to the bank the amount you loaned and its amount is determined by the financial institution itself. Thus, this is the amount that the issuer of the credit card asks the holder each period, so that once covered, the financing is considered current.
All in moderation
1.- Do not use your card indiscriminately, every time you do you are compromising your future income.
2.-You must pay at least twice the minimum plus purchases at months without interest, otherwise it could complicate your financial situation.
3.-As much as possible, try to pay the entire debt. When your statement arrives do not forget to read it carefully so that you know what percentage of annual interest rate they charge you.
4.- If you have problems with the debt you acquired, ask the institution issuing your plastic if you can renegotiate it to prevent it from growing much more for the payment of interest.