After a study, the portal Mac Florendo Bertolas found that more than half of Brazilians have the habit of paying only the minimum amount of the card bill and more: 83% of consumers use this mode of payment in time to install a purchase, and Almost a quarter of consumers who are heard often make purchases in installments at least once a month. The survey also reveals that more than half of respondents have already used or are in the habit of using revolving credit – a situation in which the consumer chooses to pay only the minimum amount of the card bill. An aggravating factor is that 77% of these recognize that they do not know the amount of interest charged on this type of operation.
And the problems don’t stop there.
Four out of ten respondents attribute ease of use as the main cause of superfluous purchases, followed by difficulty in keeping track of the value of purchases made (36%) and not resisting impulse purchases (16%). Given all the facilities and conveniences of the card, most respondents (61%) admit that at the time of parceling a purchase, what matters most is if the value of each installment fits in your pocket and not if the interest embedded impact the value end of the product. “And it is precisely these bad habits of financial planning that are the main cause of the default of families. There is an immediate behavior on the part of the Brazilian consumer, which tends to ignore the value of secondary costs as the fine paid for late payment of the invoice or interest. charged for the use of revolving credit, “says SPC Brazil chief economist Luiza Rodrigues.
And that is the big risk.
Small expenses add up and without delay turn into a huge amount and hard to pay. “The credit card has brought convenience and security because it enables immediate purchasing power, even if the consumer has no money at the time of use. But to enjoy the advantages, you need control so that you don’t spend more than you can actually afford. Those consumers who do not pay the full amount of the bill run the risk of falling into the snowball effect, since today the average rate charged on these transactions is around 200% per year.
Check out these tips and enjoy the credit card without trauma:
- Stay tuned for card annuity rates
They vary from one administrator to another. If you are dissatisfied with yours, negotiate the values.
- Beware of the number of cards in the wallet
“The organized consumer can have two, three or more cards, which will be no problem. However, a significant portion of the population has more than one card in their wallet and yet ignores the interest charges and the risks of not paying. a full bill, ”says Vignoli.
- Manage your expenses
Keep vouchers and look closely at your monthly statement to find out, for example, how you can save next month.
- Prefer short deadlines
Even if you have to cut other expenses. This way you manage your budget and don’t run the risk of runaway.
- Escape from revolving credit
Do not pay only the minimum card. An unpaid credit card bill of $ 1,000 turns into a debt of over $ 4,000 in one year.
- Book a value
Set aside part of your household budget to pay for the card and always provide for the full discharge.
- Choose the due date well
It is best that it is closer to the date you receive your salary.
CONTROL YOUR DEBTS
For those who have been in debt on the card and are having trouble paying late installments, Money Happy Loan offers a free debt exchange simulator service over the internet.
With it, you find out how much you can save on interest if you choose to replace revolving debt with a payroll-deductible personal loan, the rates charged to the consumer being cheaper.