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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.

Tarjeta de Crédito: factores claves para uma decisión
Credit Card: key factors for a decision (Photo: Internet).

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.

Credit card without annuity and easy to approve: Liverpool Rosa

If you are looking for a way to pay in installments for the new furniture you would like to buy or you would like to acquire the latest gadget to play video games and you still have not found a good credit card for your profile, we present you the card pink liverpool.

Being a departmental card and not being associated with any transaction network (VISA or Mastercard), it can only be used in Liverpool. If you are looking for a card that you can use inside and outside the store, we recommend you read the benefits of this card.

¡Descubra los beneficios de tener una tarjeta Liverpool Rosa!
Discover the benefits of having a Liverpool Rosa card! (Photo: Internet)

Benefits of having a Pink Liverpool

  • You can obtain it with a minimum monthly income of only $4,000. If you work taking care of the house, you can also obtain it, you only need your partner to sign as guarantee;
  • you can choose the Express Procedure With proof of your income or if you have at least 6 months of experience with some type of credit such as personal credit or mortgage. The delivery will happen in less than 24 hours;
  • heThe Liverpool Rosa card has a rewards program. In addition, during special promotions, points are awarded that are converted into cash, which you can use to purchase products in Liverpool stores.

If you found little...

  • You will have a discount of 10% on everything you buy during the opening day of your card;
  • noor you will need to pay an annuity for the card and additional fees;
  • pYou will be able to buy everything you see in Liverpool stores in 48 installments;
  • pyou will be able to pay your bills pink liverpool online;
  • pYou can withdraw cash at Liverpool ATMs after your card is one year old. 

As it is a card issued by a store, you can only use it in its branches or affiliated businesses. This means that, even if you have a line of credit, you will not be able to use it anywhere. 

The credit card pink liverpool it is an excellent option. However, it is the most appropriate for those looking to pay in installments for appliances, furniture, among others, and do not want to combine these purchases with those they already have on their main cards.

Unlike some banks, Liverpool lends to a broad segment, including the informal sector and home-care workers.

Read Also:

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What is the best time to pay your credit card, we tell you

Credit card without annuity and easy to approve Palacio de Hierro

The main advantage of departmental credit cards with no credit history is that the requirements are much simpler. Thus, they are different from those needed to obtain a loan from a bank. Next, we will tell you everything you need to know about the Palacio de Hierro credit card so you can make an informed decision.

Benefits of the Palacio de Hierro Card

  • It has a scoring program, converts 10% of purchases into points that can be used at Casa Palacio, Viajes Palacio, Boutique Palacio, Restaurante Palacio, or in other affiliated boutiques;
Tarjeta de Crédito sin anualidad y fácil aprobar Palacio de Hierro
Credit card without annuity and easy to approve Palacio de Hierro (Photo: Internet).
  • Bonus 100% of your first purchase in Palacio Points. Each point is equivalent to 10 cents;
  • to process it, it is not necessary to have a credit history;
  • offers promotions of months without interest, additional discount of 10% and double points;
  • annual reimbursement of your purchases.

The department store rewards the use of your Palacio de Hierro credit card according to the amount of your annual consumption. If you are registered in the Total Partner program, you can get a refund of up to 3%, in addition to special benefits. The following year you will receive a bonus on your credit card with no annuity, available to make the purchases you want.

Besides…

Generally, when paying in Palacio de Hierro stores, you will have more months without interest than if you did it with another type of card. You can use your credit card without a bureau in any of the group's stores:

  • Palace House;
  • Iron Palace;
  • The Palace Boutique;
  • Palace Restaurants;
  • Palace.

Read Also:

Credit card without annuity and easy to approve: Liverpool Rosa

Things to consider before taking out the credit card

The interest rates are 13,26%* (annual) which makes the Palacio de Hierro card one of the cards with the lowest interest rates. However, we suggest you only use MSI for purchases that have a long lifespan (furniture, appliances, etc).

It is best to take advantage of the interest-free monthly purchases offered by stores, since it allows you to amortize your purchase over a certain number of months without paying interest.

The Palacio de Hierro credit card, being a credit card without departmental credit history, it cannot be used anywhere other than Palacio de Hierro or in affiliated boutiques. To apply, it is necessary to prove monthly income of at least $5,000. The procedure can only be done by the person who will be the owner, that is, it cannot be obtained with a guarantee (in the case of housewives or family dependents).

IMF: Mexican economy will be one of the hardest hit by COVID-19

The impact of the pandemic COVID-19 in the Mexico's economy will be strong. He will cause a contraction of 10.5 percent in GDP in 2020. That is what the International Monetary Fund estimated (IMF).

In April, the agency projected a 6.6 percent drop in the national Gross Domestic Product (GDP). By 2021, the IMF estimates a rebound of 3.3 percent, instead of 3 percent.

For the Euro zone as a whole, a contraction of 10.2 percent in its GDP is seen in 2020. In addition, a rebound of 6.0 percent is expected in 2021. That is a reflection of the severe impact estimated in the Italian and Spanish economies.

COVID-19
The impact of the COVID-19 pandemic on the Mexican economy will cause a contraction of 10.5 percent in GDP in 2020, estimated the International Monetary Fund (Photo: Internet)

COVID-19 in Mexico

For the United States, the forecasts for the IMF they consider a recession of 8 percent in 2020 to advance 4.5 percent next year. It is a downward adjustment of 2.1 and 0.2 percentage points from the April estimate.

For Canada the projections are similar. A drop in GDP of 8.4 percent and a recovery of 4.9 percent are expected in 2020 and 2021, respectively.

China's GDP will grow one percent in 2020. Still, it is expected to advance 8.2 percent next year, estimates lower than those previously provided by the agency.

Mexico is not only the Latin American country with the most negative forecast

Sand waits for the Economy of mexico expect your GDP to fall at a double-digit rate. 

Mexico will be one of the countries hardest hit in its economy by the pandemic. For that reason, an improvement in their business environment would help them recover and benefit from the opportunities that the USMCA trade agreement represents.

That is what Malhar Nabar, head of the Economic Studies division of the International Monetary Fund (IMF) Analysis Department, pointed out.

According to the IMF, investment and productivity growth would benefit from strengthening competition and removing barriers to trade in services. In addition, it would be interesting to encourage greater private sector participation in the oil extraction and refining sector.

"An improved business environment would help the economy recover from the pandemic and lift Mexico's relatively low potential growth rate," the IMF noted.

At this stage of the pandemic COVID-19, Mexico's immediate priority should be to expand fiscal support. In this way, the country will be able to save lives and livelihoods. This will be achieved with the implementation of life lines with larger fiscal supports.

In addition, supports must be timely, specific and temporary. In turn, these measures will help reduce the risks of a deeper recession in the Economy of mexico. 

Also read:

Economic Recession: more than 150,000 businesses close in Mexico

The EU and the opening to travelers from third countries

The European continent plans to reopen its borders to travelers from third countries as of July 1. Despite this, the opening process will be limited to a specific group. The reduction of stopovers for passenger transport will benefit some countries

The list will maintain the ban for travelers from many parts of the world, including some as important as: the United States, Russia, Mexico, Brazil, Argentina, Peru, Chile, Saudi Arabia, South Africa and Singapore.

The veto will not affect European citizens returning from countries considered at risk.

apertura a los viajeros
Find out today what are the hopes of opening to travelers! (Photo: IPS Journal)

Find out today what are the hopes of opening to travelers!

However, community sources believe that it is essential to arrive at a common list. This is to prevent each country in the European bloc from unilaterally reopening to countries that have not yet controlled the pandemic. The lack of communication between countries could compromise all the progress made in the control of the pandemic by the European Union.

The European Commission suggests that the reopening is based on a technical methodology and objectives. For example, the number and propensity of new covid cases, testing, monitoring and control measures; or the security and social detachment protocols used in airports and airlines so that data verification is not an easy task.

The criterion proposed by Brussels for the opening to travelers to Europe is that the arrival of travelers from third countries is subject to a percentage similar to the European average, that is, less than twenty new contaminations.

But in nations like Germany the proportion of new contaminations is less than ten and in Spain the number is close to eleven, so the methodology could be even more limited. Outside the European Union, nations like Japan or South Korea show figures similar to the countries of the old continent

The common point could cause several countries to be left off the list, countries like Chile, Brazil and Saudi Arabia. Where the pandemic reaches high figures in which the proportion of cases and 120 cases per hundred thousand inhabitants in fourteen days, according to the European Center for Disease Prevention and Control.

Passengers from Mexico, the United States or Russia, where the contagion of the virus varies between 60 and 120, so these countries are left out. Community sources say the US, which is the world's largest trading zone with the European Union, is not on the list of safe locations. Brussels also points out that the US has limitations on the arrival of passengers from Europe.

conclusions

Everything indicates that the opening to travelers of the European continent will be limited during the month of July. It is only in the month of August that with the mention of the health crisis caused by the covid-19, the possibility of a greater opening to other countries would be considered.

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