This 2017 is on the way to becoming the year of the credit card. This is demonstrated by the figures offered by the Bank of Spain. Currently almost 50 million credit cards are circulating in our country. In fact, this figure does not stop increasing and the Spaniards are increasingly comfortable using this method of payment and financing against cash. There are several reasons that have driven the use of the cards. One of the most prominent is that which refers to the different possibilities offered to reimburse the capital you use on credit, as is the case with flexible payment.
The flexible or easy payment service is based on returning the amount of one of the purchases you make in monthly installments of 3, 6 or 12 months (depending on each card, not all have it) and generally with a lower interest than that would apply to you for using fractional payment.
This type of payment can be very comfortable if you soon want to give a new air to your home: renovate the bathroom, change the color of the walls or install air conditioning.
How to make the most of the easy payment to furnish our house?
The reimbursement method most used in the credit card is the deferred payment or total payment, which is based on returning all the capital borrowed at the beginning of the following month at no cost. Even so, you should consider other options that can be very useful depending on the purpose you want to give the money and the situation in which you are.
If, for example, you are changing the decoration of your home and you decide to buy new furniture and accessories, the money you use on credit can be repaid at the beginning of the following month without interest. However, the amount can increase considerably and, in those cases, it can be difficult to deal with the entire debt after one month. In this case, it is a good idea to request the easy payment option and reimburse the capital comfortably in several months. In this way, you will not find yourself in an economically compromised situation and you will be able to repay the capital in installments with lower interest rates than usual.
A clear example of this can be seen on the credit card offered by Bankia called ‘Easy Payment’ with which you can finance any purchase over 60 euros up to 3 months and without interest, since the only thing you will pay will be 9 euros of management fee.
Other tips to pay the minimum with cards
In addition to the payment methods and knowing how to use them, it is important that you look at other aspects that will also help you spend the minimum possible money with your credit cards.
On the one hand, when requesting a card, it is important that you ensure that it does not include issuance or maintenance fees, that is, it will be free. It is advisable, too, that you look at the discounts and promotions that they offer, since, depending on your preferences, it will be more convenient to request one or the other. Last but not least, you should compare the interest rate of each credit card, both in the easy payment method and in the ordinary fraction payment, since the lower the TIN the less interest will be generated.