Credit Card: key factors for a decision

We know that having a credit card It gives us many advantages. However, cards can also make our lives difficult if we don't handle them carefully. It is very important to learn how to use them well, and this text, We will talk about the key factors to make a good decision.

It is recommended not to allocate more than 20 or 30% of your total income for this item. In this way you do not see yourself in the need to compromise your budget destined for your daily spending. Also consider not occupying more than 50% of your line of credit.

Plan your purchases on credit and do not go into debt, that is the key. If you buy products for months without interest, make sure that they are the ones that are most needed.

Learn how to make a good credit card decision

One of the main strategies is to fully settle your bill on time, up to the date reported in your payment. The people who do this are called “totaleros”, the type of customer that banks do not like, since they cannot charge additional fees.

Another essential strategy that is little used by clients is to analyze the credit cards available at other banks. You can contract the benefits of the other cards with yours to identify which is the best. And if that is the case, change banks.

To choose a good credit card, the first thing you should do is be clear about what you need it for. Asking is the first rule:

• How much is the required income for each card?
• Do I have to pay an annuity fee?
• How much is the annual interest rate and late fees?
• How much is the CAT?
• Is there any additional commission?

Last conclusions

With the answers to these questions you will be able to make the best decision. If you are "totalero", for example, it is better for you to hire the credit card that does not charge you an annuity although it does have higher annual interest rates. 

In short, you can use this information to choose the best credit card for your situation. However, you decision It must be in accordance with your socioeconomic situation. So, decide how you intend to use it and also what benefits are best for you.