The bank calculates the monthly payment on the credit card that you must make according to the payment schedule. The payment amount depends on the amount of the current debt on the card and includes both the amount of the principal debt and the interest for using the credit.
The ability to make purchases without having your own funds.
The presence of a grace period during which the bank does not charge interest for the use of borrowed funds.
Cashback accrual, which allows you to return part of the funds spent on purchases using the card.
The opportunity to receive a loan in a larger amount and for a longer lebanon mobile database period than with an installment card or when paying for goods in installments.
You can pay in any stores and for any goods and services, without being tied to partner stores.
When applying for a credit card, you need to remember that it is the same loan as any other issued by the bank. The credit limit on it affects your credit history and solvency.
Banks have an active advertising policy in terms of promoting credit cards. Therefore, you can often meet borrowers attracted by tempting offers and having 5-10 credit cards from different banks. It is important to understand that each such card is reflected in your credit history. And if you need to take out a large loan (for example, a mortgage), you may be refused it. Therefore, before applying to a bank for a large loan, it is better to close the limits on credit cards in advance, leaving one or two main ones.
Payment in installments, installments, credit card: comparison of tools
Below we have compiled a table that will help you better understand the main credit instruments, compare their pros and cons, and evaluate the benefits and disadvantages.