Paying with a credit card is quite comfortable, since with these we can buy a product and pay it in 6 months or more. This to a quite affordable quota every month. But, we must have as this comfort is given with a price something that in the end turns out to be a more expensive price initially used. Where the average interest is usually 18%. This according to the Bank of Spain, but how expensive that percentage can be?
The truth is that this is a percentage that can be a bit high if compared to the cost of personal loans. Which do not usually have an average interest greater than 8%, but in practice, this extra cost can have a fairly low effect on the client's pocket, as long as the card is used responsibly. In the event that a customer buys a 50 euros smartphone and returns the money in 6 months, monthly it should pay about 88 euros. Giving this a final cost at 6 months of about 527 euros, 27 euros more, but that would be reflected within a period of about 6 months.
Don't do this with your credit card so as not to lose money
The problem in these loans comes when the client decides to return to a very low fee every month. This is one of the main advantages that a credit card has, its flexibility. But this advantage is a double -edged edge weapon if it is not handled carefully, since if a much lower payment fee is chosen, interest increases greatly.
Following this we can take an example where a customer decides to make a purchase of 2 thousand euros with his credit card where he decides The card is used, the amount would increase what would increase interest and debt is extended much more.
It is important to know what type of monthly quota choose. This should always be a quota that allows us to liquidate the debt in the least possible deadline in order to reduce interest. But that they are also comfortable payments that do not compromise our personal economy, but a very low quota should not be chosen. Since after a while we will realize that despite being constantly paying our debt to increase considerably.