One of the tools that many transactions circulating in the community now is a credit card. Credit card transactions into preferred tools because of practicality.
Imagine, you can defer payment of a wide variety of transactions to the maturity date. Not only that, you can save money as well because there are many features such as discounts and cashback if you use a credit card.
But, there are some credit card users are careless in using it. As a result, not profits, but credit card interest swollen.
As if, any misuse of the credit card debt that can make you bloated?
1. Ignore fluctuations in interest rates
Most people do not bother to change the policy of Bank Indonesia on changes in interest rates. Bank credit card issuers will follow the policy of Bank Indonesia to change interest rates.
If you were not updating the economic news, at least make sure that the email you registered in the bank when you apply for a credit card application remains active.
Your credit card issuing bank will certainly inform changes in policy interest rates to their customers, so you can take steps to prevent wasteful anticipation for the debts of credit card interest.
2. Underestimating the causes of the emergence of interest
It is one of the major mistakes that often occur in the community. Most people assume that any transaction using a credit card must have taxable interest, and some did not even know at all what the transaction that may cause them to pay interest.
Credit card interest can be charged if someone late repaid, not settled the bill in full by the due date, withdraw cash, or conversion transactions into installments (depending on the bank’s policy).
If you carefully against anything that can cause you exposed to interest on credit cards, you can avoid interest charges. Read also: 5 Habits of Successful Entrepreneurs Should You Follow!
3. Used to swipe cash
Another mistake often made by people are perceiving as the credit card machine to get instant money (gestun). If you need cash in a short time, you should use the credit facility for a given interest rate tends to be lower than the interest cash withdrawals using credit cards.
Withdraw cash with a credit card is not recommended if not in an emergency or forced. If you do, try to pay off the cash withdrawal as soon as possible because the interest on such transactions is calculated on a daily basis.
4. The use of credit cards for transactions that do not fit
Last trivial errors that causes swelling debt interest credit card is a credit card just choose the easy submission and not so according to your needs. For example, you choose a credit card with you when traveling related features rarely traveling. Choosing the right credit card will help you to live a more frugal.
Make sure the interest rate credit card you choose is also in accordance with the type of card you need. Use of financial product comparison sites.