Tips Credit Card and How to Avoid Debt
By credit card, the issuer (which is usually a bank), offers a consumer credit limit for it to make payments and purchases of goods and services. No need to have a current account in the bank to have a credit card. According to the income of each is stipulated credit limit. Thus, within the month, the card user has a maximum value that can spend. The value of purchases should not exceed the preset limit by the issuer, defined from the analysis of various factors, such as salary or monthly income…
How does credit card debt and on tips
If the customer makes purchases in installments in a store, the outstanding installments will also compromise the total card limit, which is re-established as the benefits are paid.
At the time of contracting the service, the user must request a copy of the contract and the table with the tariffs and CET (Total Cost Effective, covering all fees and charges levied by the card) in effect.
Rates – The Central Bank, through Resolution CMN 3,919 / 2010, established five types of basic credit card fees (which is the one that has no loyalty programs or rewards):
- Annuity: charged once every twelve months. Banks can divide this charge throughout the year.
- Emergency credit rating: charged when the customer performs spending above the available card limit.
- Paying bills: charged when the customer uses the card to pay bills and slips collections of products and services such as water, electricity, taxes etc.
- Withdrawals a fee is charged in the case of cash withdrawal through credit card service channels in Brazil or abroad.
- Duplicate card: charged for the preparation and issuance of a new card to order replacement for loss, robbery, theft, etc.
In addition, the card issuer may charge fees for special services that the customer willask, such as automatic messaging when the card is used.