The CAT: How to select the best credit card?

The total national cost (CAT) in Mexico for a classic card it is sixty-seven percent, and in Colombia the rate is twenty-one percent, in the United States it does not exceed fifteen percent. The index is based on doubts about the financial conditions that Mexico is going through, there is the instability of the peso, in addition to the risk of a predetermined and very high person compared to other nations.

An example to understand the situation is that for every 2,500 MXN that a customer borrows when using their card and does not pay the bill on time, 1,680 MXN are charged and in the United States they charge approximately 150 MXN. So understanding the calculation is easy: the higher the percentage in CAT, the more expensive it is to have a card.

If you choose the right card you will get more for your money. It is important that you know that most of them charge you an annual commission. If you stayed with the first one that they offered you, it is likely that you are receiving benefits that you will never use. Compare and stay with the one that suits you best.

That is, it is the sum of interest, insurance and commissions charged by the card operator. So that with the payment due or delayed, the total annual cost is increased by the risk that the client cannot make the payment of the debits of the card.

How to get a credit card with CAT!

Consequently, most credit cards have a due date for paying off debts. The first is used to mark the beginning and end of a period that is normally 30 days. The second, on the other hand, defines the day on which you must pay the debts made in the previous month. That is why it is important to mark the payment date to avoid additional taxes.

Do not forget that when you use the card, you are requesting a loan. So that each time your card is used, whoever is paying for the purchase and the financial institution, that is, the card operator, is lending you money, and it will be up to you to pay the amount of the loan. So that CAT It is the total of all costs and expenses generated by a card.