Learning to properly manage your credit card will allow you to take care of your financial health. And it is that when you want to obtain a mortgage loan to obtain your apartment, the first thing that the banks will review will be your credit history. Therefore, you must be careful with the use and handling of credit cards because they are the first financial instrument with which the vast majority of Peruvians usually incur debts. Therefore, we have prepared for you these 7 tips to correctly manage your credit card and take care of your credit history.
1. Pay for your purchases in the least amount of installments possible.
When you make a purchase, avoid dividing it into many installments. Since each extra installment that you request will imply a greater amount of interest that at the beginning will seem minimal; however, when you look at the big picture, you can see that you could end up paying up to double or triple the initial price.
2. Avoid paying the minimum of each installment
In certain situations you will not have liquidity and you will choose to pay the minimum amount that you have. However, try to avoid that situation, because the only thing you will achieve is to increase the interest on your next installments, making the total payment of the debt increasingly complicated.
3. Avoid excessive use of the credit card
The credit card should not be used for all types of purchases, only for those that you really need and do not have cash to make it at the moment. Therefore, do some planning before making the purchase and avoid impulsive purchases.
4. Pay your fees on time
Schedule your payment dates in a personal calendar and use the reminders. Being a good payer will later allow you to obtain exclusive benefits from the bank and also allow you to maintain a positive credit history.
5. Avoid withdrawing money with your credit card
The interests for withdrawing money with the credit card are higher than a personal loan. Always seek to have a provisional saving in case of emergencies to avoid having to resort to a credit card.
6. It is not necessary to have so many credit cards
Banks will in some cases send you pre-approved credit cards ready to be used; However, avoid having more than 1 credit card because you could fall into the trap of going into debt with one and using the other to get a loan and pay the first one. This is very common and involves entering a vicious circle that always ends badly.
7. Check your credit history in Infocorp
And finally, check your credit history for free, to do so just follow these steps:
The first thing you should do is sign up for Equifax. To do this, go to:
fill in the data and click on "validate". The next thing that appears on the screen are some personal data of the person: names and surnames. Once this is verified, the registration and identity validation is carried out. Once this is finished, choose the option 'Finish' and, after a few minutes, you will have your credit report in your email. That simple
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