A credit card is a financial instrument by
means of which a bank, departmental
store or of supermarket grants to its clients a line of relevant
credit * by a certain amount known like credit limit. It is a plastic
card with logo
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and names of the bank or it tends transmitter, a number
of identification, his use, the name of the holder, the dates of expedition
and victory of the same one. Also it indicates if it can be used in
the country or abroad; by the misfortune it has a magnetic stripe and
another one where is the company/signature of
the proprietor.
Immediate purchases, deferred payments.
A credit card is a plastic that allows us to
make - without money in cash the
payment of goods and services and to have them immediately. Later the amount
by the money is paid to him to the bank that lent us to make our purchases and
it is paid to him, also, an extra amount - or interests to use a
line of credit that to us the money use avoided to pay the goods or
services at the moment at which we acquired
them.
best credit cards is the one
that is offered to the Users in the credit cards.
With his type of credit an amount of determined money is granted to
a person, - known like credit limit -, which
continuously it is possible to be
had (to make purchases on credit or to have cash) as long as the authorized
amount by the own institution is not exceeded that grants it and the
corresponding payments by their use are made opportunely.
The credit card also counts on a Number of Identification's Personal (NIP),
provided by the bank of issue, to the holder
of the card of confidential way,
that allows him to make balance consultations and to have money in cash
in the automatic tellers. This retirement
also generates interests that we must
pay to the bank, since it is a lent money.
How dose a credit card works?
The bank or store grants a line of credit through the card that is given to
the User, who uses it in the commerce
affiliated with the bank or in the own store
that emits them. The User, to pay to the goods or services that he acquires,
presents/displays his credit card and signs a promissory note or receipt
of purchase, in where settles down
the total amount of the purchase. best
credit cards
After fact the position to the line of credit
by the amount of the purchase, in
the case of banking credit card, the commercial establishment or business
gives to the User a copy of the receipt and
the original one presents/displays
it to the bank to be able to receive the amount of this purchase.
In the case of department stores or supermarket, these will
file the purchases to certify and to take to the control of the positions
and installments of the account of the client.
Some benefits of the credit card
If you think to ask for a credit card or already count on one, we recommended
you reads the following lines to verify if this type of
instrument really covers its expectations and is for you an aid in the handling
of your finances. best credit
cards
The benefits that a credit card offers
are, among others:
To resolve economically some emergencies,
such as unexpected
hospitalizations, trips, urgent repair of the automobile, etc.
To guarantee the benefit of some services,
for example, reservations in
hotels, rent of cars, centers of spectacles.
Payment of services like telephone,
television by cable, cellular telephone.
Disposition of money in cash the 24 hours
of the day, all
the year, in automatic tellers.
To take advantage of supplies and special
prices products or services, as
well as other daily purchases.
Effective drawings, promotions, points,
preferential rates, etc. The credit cards
frequently grant to the client benefits as the mentioned ones with base
in their good credit file, reason why the opportune payment of our credit
card, besides to save problems to us discounts, promotions, drawings,
points can mean us that can be
interchangeable by money in cash, goods or services.
Grace Period.
This one is the term that must to pay the debit generated in
the credit card. This period is counted normally as of the date of cut up
to 20 days later. In order to take advantage
of this time to favor, it remembers
that one is due to pay before the day marked like date of payment. best credit
cards
How to control the expenses?
The bank or store will send to its
address, or the place that you have indicated
for it, a statement of account * where it is indicated:
The amount that owes (balance).
The amount of money which still it can
have his line of credit (credit available).
The total amount of its line of credit (credit limit).
A required minimum amount as payment to
conserve healthy
its credit (minimum payment).
The term that it has to pay his debt to
the bank or tends.
The interests or commissions that have
been generated
by their purchases or dispositions.
In addition to these data, in the
statement of account all the movements are registered
that took place in the period that includes/understands this document,
that is almost always of a month. That is to say, in his statement of
account they appear the positions by purchases and installments by conducted
payments. best credit cards
If you have conserved your own of these
movements, you will be
able to compare if the statement of
account that they send to him is
Credit Card Application
correct. Otherwise, it will be able to do
in his bank or it tends, the claim
necessary to clarify this erroneous
situation within following the 45
natural days, counted as of the date of
cut of his card. By this it is
necessary that it conserves all referring
documents and to this
one.
* State of account: Official document that
sends the bank to the address of
the User, where all the consumptions are
described, dispositions, payments,
I interest and commissions that took place
or were generated during the
period of a month. Secured
Credit Card
Recommendations
Remember that a credit card is not an
extension of its pay, is simply an Visa Credit Card
instrument to be able to have certain
amount of money without having to use
it in cash. The money which we obtain is a
loan that there is to pay in a
determined term, plus an amount by
interests or commissions that will be due
to pay like price to be able to acquire
and to use the goods or services
without having to pay them in cash.
In order to make a better use of its
credit card, we suggested to him:
To know its capacity payment and not to
spend more than what can pay.
Credit Card Application
To take a registry of its expenses and to
keep "vouchers" and the from its purchases.
To know how the date of cut of its card to
make a programming of its
payments and to pay the smaller possible
amount of interests.
To try to pay at least the double of the
minimum payment required by its
bank so that the debit does not increase. best
credit cards
To pay before the date of victory that
indicates the statement of account,
so that the calculation of the interests
is on a smaller amount.
When making payments with check, to take
care of that it is with the
anticipation necessary to give time to the
normal proceeding of reception of
these documents on the part of the bank,
and that can take up to 72 hours. Secured Credit
Card
By security, nobody must know the NIP
(Number of Personal Identification)
its credit card. When doing retirements of
money in the automatic tellers,
to try that they are in capable days and
hours, of preference in tellers
installed in supermarket stores. To never
forget to retire the
of the operation.
To take care of the use of the card.
To avoid the unnecessary purchases only
being supplies. Visa Credit Card
To destine the credit card for specific
purchases, since if uses it to make
all type of payments, it will be easier to
lose the control in its handling
and will pay to interests or commissions
by all the purchases and
dispositions that make. best
credit cards
"I want a credit card"
Before signing a contract request, he
takes into account the following
thing:
Choose the best bank than one adapts to
his necessities.
Find out what added values - like
insurances, prizes, discounts in some
commerce, consultant's office, etc. -
offer the bank to have a credit card.
Analyze the commissions that each bank by
account handling receives, I
interest and commissions annual,
retirement of automatic tellers,
consultation of balance and others.
In how many and in what places of the
Mexican Republic and the foreigner are
accepted the card.
There are banks that automatically offer
an automobile or life insurance to
him. You are the one who you decide if she
accepts them or no.]
The requirements to obtain a credit card
are:
To fill the request of the bank of which
you wish to have the card, to sign
it and to give it to the nearest branch.
Unlike many countries, in Mexico
not yet it is possible to ask for these
financial instruments through
Internet because it is required
unavoidably of his company/signature like
titling of the card.
To give a of income. In this heading, the
banking institutions
can accept other documents like the credit
card that is had best credit cards
of some other bank, or some other
reference that helps to know him who you
are, which are their monthly income and
their capacity of payment.
Give these documents to the banking
institution, accompanied by two
photocopies each one.
Take into account that once the bank has
received its request, first that
will do is to consult the Bureau of Credit
to know if the data that put in
the request are really. (to see the
section "the news article" in
Protects its money, number 3, June of
2000).
If you are contented with your bank and
this one is satisfied to have a
client like you, surely it will increase
the limit of credit, avoiding with
it that asks for a card of another bank.
However, if in his use they have increased
the pay to him by some promotion,
and considers that its limit of credit no
longer is sufficient to him, can
ask for to his bank the increase of the
same one, but never it requests more
than what can pay.
