“Straight fee or in how many installments?” This is the question that is heard when making purchases with credit cards in establishments and in many cases the number of installments is chosen without analyzing it.
In that sense, the postgraduate professor of Esan,
To begin with, he details that the use of the credit card must be responsible and it has to be used basically for the financing of certain products or services that are of main necessity.
As a second point, he points out that the bank charges an interest rate for the credit it offers, so for each month of loan, you must pay the respective interest.
Based on this premise, he indicates that the payment installment that you will make each month should be aligned to the amount of the purchase.
Formulas to consider
Thus, he pointed out that if the purchases are of a lower amount -between S/ 100 and S/ 300-, the ideal installment would be direct, that is, within the same month of consumption, before the billing date. In this way, the user only makes the payment of consumption, but not the interest.
“The ideal is to pay within the same month and use the card as a vehicle to accumulate points or some kind of benefit. Then all small amounts should be in one installment,” he says.
If you make a purchase of S/. 300 and you are not able to pay it within the month (direct installment), you can consider a maximum of three installments because in this way the installment will be around S/. 100 per month.
“If you put the S/ 300 in installments of one year (twelve months), it is likely that you will end up paying another S/ 300 in that term, so it is as if you were paying twice the debt. On the other hand, if you put it in fewer months, the interest payment will be much lower. The installments that should be paid should not be more than around S/. 100 per month,” he explained.
He explained that these consumptions of lesser amount are for example the weekend outings, food consumption, family dinners, gifts, among others.
In the long term
If the consumption that exceeds S / 300, here comes to carve the terms of 6 months and maximum 12 months, says the specialist.
These purchases include, for example, household appliances (refrigerator, washing machine, etc.), technological equipment (laptops, PCs, high-end cell phones), home improvements (bedrooms).
“As long as the purchase is of a small amount, the term should be less than S/. 100 in 36 months? no way, but a debt of S/. 1,000 in 6 or 12 months,” he explained.
If the consumption is S/ 500, the installments should not be more than 6 months,” he said.