3 Credit Card Offer You Must not Know
In the credit card bills, you certainly will see a variety of terms and conditions of use of credit cards. It also can you read in the site credit card issuing bank. Unfortunately, not many people are willing to read it thoroughly. In fact, there is explained a few things that could actually be an advantage customer. So you can take advantage of this offer with some good, try to see the explanation.
1. Method of bill calculation. Bank credit card issuers will charge interest on any purchases you make. Most banks will use the “average daily bill” (including new purchases), which will continue to run until maturity. Any new purchases, meaning you are directly exposed to interest. However, this interest does not apply if you paid in full prior to maturity. So even if your bill this month USD 100 million, but if you pay the full $ 100 million before maturity, the bank will not benefit anything.
However, this method is the most profitable for banks, since few customers who were literate credit card like that. The pattern of behavior most credit card users are paying in installments, or the minimum payment. That is, you still retain the bill after the due date. Automatic, no interest (interest) you have to pay. Not to mention the late charges (late fees), which also must be paid when you are late paying bills. From here the bank gets its biggest advantage.
2. Grace period. Namely the length of time after the due date to make payment before you get late payment charge or fee. Generally, the length of time the grace period is three days (when the bank issuing your credit card grace period to implement this). So, when you forget to pay, you still have three days to pay without incurring interest. Automatically if the maturity date on a Saturday or Sunday, you can still pay up on Wednesday, without incurring interest.
3. Term costs. Terms such as annual, activation, acceptance, participation, monthly maintenance, or account set-up precedes the word “fee,” is actually just a proof of your ownership of the credit card. Fees charged are generally deducted from the credit limit. For example, your card has a limit of Rp 13 million and this month no annual fee (annual fee) of Rp 300,000. So you limit this month will automatically be reduced to $ 12.7 million.