Having a credit card can be very useful if used with care and control; However, many people fall into the famous “card” for impulse, which causes them to lose control of their expenses and, eventually, put their stability and financial health at risk.
The “card” is treacherous, because although small payments and “months” are a great option to partialize a debt, they are also easily cumulative and soon many small payments can add a very large amount, according to the Banamex financial education area.
If you neglect the payment of your card, you will not only have to pay the generated interest, also your credit history will be affected, add the financial group in a statement.
The card man gives you a false feeling of liquidity, but remember that a credit card is not an additional income, it is a credit obligation to which you must comply.
In addition, losing control of your debts can lead you to a state of anxiety, generate physical and emotional problems.
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To avoid these problems, Banamex shares four tips:
- Set clear limits to your expenses and take a budget to maintain control.
- Analyze your purchases before using the card: Do you really need it? Can you wait? What happens if you don’t buy it? These questions can help you make better decisions.
- Use your card as a means of payment, not as a source of financing. Thus you will take advantage of its benefits without borrowing.
- Limit the number of credit cards. Having a maximum of two will facilitate the control of payment dates and pending amounts.
The credit card is a valuable financial tool, but it must be used in a responsible manner.
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