Introduction Of 45 Days Without Interest 3 Secret Credit Card Tricks
45 Days Without Interest 3 Secret Credit Card Tricks. How it works in detail it is about being able to buy at 45 days without interest, what is it simply about, each credit card usually has what we call a billing cycle that consists of two dates, one which is the cut-off date, which is a date on which the purchases you made in In the month, all the expenses are simply analyzed.
How Much You Should Pay In Case Of Interest
The charges that exist on the card and then from there the amount of installments is decided based on each of these purchases to which you decided to defer the payment how much you should pay in case of interest and capital but then there is a detail is that from that date since court you have approximately two weeks to pay so.
We are going to see it with two examples of two dates possible cutoffs according to the most common billing cycles, now some banks have billing dates at different times of the month, so we are simply going to abstract how it would be in those situations but we are going to use two very clear examples, let’s start first with the Cut-off date of the 30th of each month and this is.
How does one of the banks that I have a credit card work with? The cut-off date means that I can make purchases from the first of the month to the 29th and all those purchases will invoice me in the statement on my credit card on the 30th, all the purchases that I made are reviewed, and then from there, it is defined.
How Much Is The Minimum Payment
How much is the minimum payment and then probably how much is the total payment but then if I make a purchase the first one I have until the 30th so that it is barely invoiced if the month has 31 days the purchases of the 30th and the 31st would be left for the next billing I do not know apply but I would have until the 15th of the other month as the maximum payment deadline?
It means that the purchases that I make the first one will be paid on the 15th of the other month in essence, having 45 days to pay that debt, eye and how are we talking about that at that time in those 15 days I am still within the payment term of the first month I do not have to pay any interest if I balance the total debt at that time now if. You Can Also Read 5 Keys To Mastering Money And Preventing Money From Dominating You.
I make a purchase for example in two installments that the first installment that I would pay to the 45 days would not have an interest because generally, purchases at one installment have no interest but multiple door purchases do not generate interest in the first month in the second month the interest of the second is charged month plus the interest of the first so.
A Single Installment Many People Simply Use A Credit Card
This is a trick that is more worth applying to buy a single installment many people simply use a credit card to defer payments sometimes they do it for two or three months and really if we do it to two is practically not necessary if we use the correct time on our credit card now what happens if the billing date, for example, is the 15th it means that purchases from the 16th to the 16th would be the.
First day of the month or of the monthly calendar of invoicing then I start to make purchases from the 16th and from the 17th 18-19th until the 15th of the other month on which day all those purchases will be invoiced and I would have approximately until the 30th and in some banks even until the 3rd, 4th or 5th of the following month means.
That some banks even give me up to 48 and 50 days to pay assuming that I bought just the day after the cut-off date or I also believe that according to the b I set the cut-off date the same day since that day the purchases are left for the next cut-off date as such, so this is the first trick and the only thing you have to do is find out with your bank in the case.
Which One It Is Your Billing Cycle On Your Credit Card
You don’t know exactly which one it is your billing cycle on your credit card when the cut-off date and when the payment deadline and try to make purchases the day after the cut-off date now we must bear in mind that here we are talking about credit cards from banks because sometimes I find credit cards from supermarkets or shops, in particular, some of them do not even have.
A visa MasterCard or american express franchise and they are different and those have their own rules, for example, one of them charges interest from the first day and they work very differently from how the normal cards of all banks work so you have to be very careful with this with the interest rates and con all the other conditions because sometimes these cards are very easy but they are complicated to handle and are very expensive.The second trick is something called a category change.
It turns out that at least in Colombia few banks offer credit cards without paying fees. I manage without monthly or annual fees and what happens is that many banks simply define a monthly cost for having the credit card and being able to use it and for many people who suddenly do not use it constantly or simply want to save that money sometimes call Saying.
The Credit Card By The Franchise
That one is going to cancel the credit card as in quotes a threat to the bank is not enough to offer an exemption from the handling fee for a time so that one can keep the card, some banks do it but others do not. Banks that do not do that, it turns out that, in general, every bank has a large portfolio and a variety of categories. ace of the credit card by the franchise for example the closest.
We have the classic we have the now we have the platinum we have the black at least here in Colombia in visas the same classic in gold we have platinum we have signature I think it is the other infinite is another I do not know If the two are the same and we have in American express green blue gold platinum, in short, there are lots of categories many of these categories for example.
Let’s talk about the master card they allow that depending on the same quota it is according to the same amount of the monthly credit limit that I have with the card I could have platinum or an hour or platinum or a black to any of the two different ones at any time and it turns out that if the period in which the handling fee exemption ended has already arrived.
I can request with a simple call to the bank to change the category of that card, for example, good afternoon I have a credit card more ce rca to platinum I want them to change it closer to me in case the credit quota fits the category if possible that you can see depending on each entity they can request that is the change of category regardless.