It is common that in the face of a bad operation in the equity markets you have certain problems to have the sufficient liquidity in your checking account. Especially if you are not backed by a payroll or recurring income. Of course, a very unwanted situation on the part of investors and that has a very complicated solution. One of the few banking products that can help you get out of this predicament are credit cards. But that they have a very clear peculiarity and that is that you do not have to pay interest under any aspect.
This class of credit cards are authorized by banks. But with very pronounced characteristics, as you will be able to verify from now on. Because in effect, it is about plastic that are exclusively intended for the consuno. And therefore, you will not be able to use it for other purposes, just as you will not be able to withdraw any cash from bank branches or ATMs. It is a first difference that distinguishes these cards from the rest.
They are made to make purchases in the shopping centers and brands. Although it maintains the same functions as any credit card worth its salt. Usually in its loyalty format. What does this mean? Well, something as simple as that you must be faithful to a center or commercial brand. Because in return, they will provide you with more advantages and one of the most relevant is that you can postpone purchases without interest or other expenses in their management. As a consequence of this trend, users who are going through a monetary problem will be in a better position to reach the end of the month with the balance of the current account more healthy.
Credit cards: no interest paid
With this special means of payment, there is no doubt that you will be able to make a series of purchases, but without raising your level of indebtedness. Not surprisingly, this is one of its main characteristics and that stands out from the rest. To the point that they are not usually missing in the portfolio of bank users. Because it also allows you to continue enjoying the most conventional credit cards. Through operations and account movements, such as cash withdrawals from ATMs, transfers to your current account or making payments online.
However, this special means of payment allows its holders to defer payments in the main shopping centers. So that in this way, they can arrive in a better situation at the end of the month and prevent some expenses from misalign your family budget or personal. The reason for this being this way is that the delay of payments will be executed without any kind of interest. In other words, at 0%, the best formula for not increasing the level of indebtedness of bank users.
Expenses of this small financing
The movements in the purchases developed by this class of plastics do not carry any interest. But there will be no remedy but to abide by the deadlines for its return because the penalty for this scenario is very high. With a rate that can approach up to 20% in some of the most relevant cases. It is a risk that customers incur and therefore the discipline to execute the charges on account will be a very important factor for the proper development of these credit cards.
On the other hand, it cannot be forgotten that this means of payment, in general, involves no expense in the issuance, management and maintenance of the card. If not, on the contrary, your hiring is free of expenses from the beginning of its formalization. Unlike other plastics that have fertilizers that can reach 100 euros a year for these concepts. From this point of view, these credit cards are more beneficial for the cardholder. Because, in addition, its usefulness is beyond any doubt when relating to consumption.
Deadlines for postponements
As stated in this information, one of its most relevant advantages is that no interest is generated on the purchases made. But for how long? Well, for a period that usually oscillates from one to six months and depending on the card model chosen. In either case, there are no cards for longer repayment terms. Because in these scenarios they are marketed under the application of an interest rate that can perfectly reach 20%. Beyond the services and benefits with which the card is made.
The strategy to carry out this operation is due to a customer loyalty when trying to incentivize your purchases in a certain mall or simply in a brand. The price that the holders of this means of payment have is that they will be able to postpone these operations without interest. That is, they will only have to worry about returning the money they have paid in their business operations. Nothing else, not even commissions or other expenses in its management. It is the main incentive to market this financial product and above other considerations.
Credit limit on cards
Of course, you do not have a credit in the conventional sense of the term. If not, on the contrary, it is intended only to formalize purchases above all else. But even so, it allows you to have an amount on credit that ranges between 1.000 and 3.000 euros. And that is being renewed as the money is returned in the terms agreed by the financial institutions. On the other hand, they are also used to make tourist reservations, such as getting a plane ticket or hiring a vacation package at a travel agency.
On the contrary, what cannot be done in a credit mode are credit transactions. cash withdrawal at bank branches or ATMs. These monetary movements are reserved for another class of more conventional credit cards. Not surprisingly, these cards have not been made to satisfy this and other commercial purposes of the issuers of this atypical means of payment in the current banking offer. Because it should not be forgotten that it is not a regular card.
Affiliated businesses
If these credit cards are distinguished by something, it is because in a large part of the banking offer, plastics are linked to adhered businesses. As a consequence of this trend, the objective of customer loyalty In this way, the more plastic is used, the greater the advantages that the holders of this means of payment will obtain. Because they will also be in an excellent position to take advantage of the offers and promotions of these shopping centers and surfaces. Beyond the services and benefits offered by this special means of payment.
main advantages
If these credit cards are characterized by something, it is because their holders may also have a wide variety of financing possibilities, including modalities at no cost to users and how it is in this case. Until deferring the payment of your purchases for up to 12 months with an interest rate that ranges between 15% and 20%, depending on the plastic model chosen by bank users. On the other hand, they have another option that is based on requesting the operation in their establishment through the so-called instant credits. That is to say, faster, but assuming an interest in its formalization.
From this perspective, this class of credits through a card of these characteristics should serve to get out of more of a hurry, without raising the level of indebtedness, which is at the end of the day what it is about. Because on the other hand, it is not advisable to give up the idea that these cards have a strong commercial component and that it is derived from the loyalty of their holders. Not surprisingly, it will help you raise your level of debt in the coming months or even years.
No need for explanations
Another of its added values is that you will not have to explain what is the purpose that you are going to give to this class of small credits. You can do whatever you want with it, without any kind of justifications in the lawsuit. On the other hand, its grant is practically instantaneous since you can get it when you want it yourself. Because it is a line of credit that is linked to the conditions of a card with these characteristics. Therefore, you will not need its corresponding approval since you have it approved in advance.
Finally, remember that this type of financing is almost always linked to the consumer sector and has an objective that is that you make more purchases than ever. Although at the cost of enjoying a wide range of commercial privileges and that is where these cards develop their strategy. Beyond the usual services that these banking products have.