“The credit card can be your best ally or your worst enemy. The worst thing you can do with it is withdraw money, because the bank or financial institution is going to charge you 120% interest, “said Jorge Carrillo Acosta, an economics expert and professor at Pacífico Business School.
He recommended that the ideal is to use it for direct credit, using it once a month and paying what was consumed in the exact period, before closing, to leave it at zero, and so on every month, because a 45-day loan is obtained on average without paying interest.
Membership
He indicated that when the credit card is used continuously every month, financial entities do not charge membership. “Since August 30, banks and finance companies are obliged to offer among their products, a card without membership, but these come without promotions and without offers,” recalled the financial specialist.
Interest rate caps
“The interest rate caps are going to affect clients. The rates are high due to the great informality that the market represents, because the money that the banks lend is not their money but that of the savers and they have to ensure the repayment, ”said Carrillo Acosta.
He explained that this cap will harm savings banks and small financial companies, because they are the ones with the largest number of informal clients, and they are not going to risk lending at interests that do not guarantee the delinquency of other clients, “and what is going to happen is that the informal sector is going to resort to usurers, who charge up to 800% annual interest and use criminal collection methods, “he warned.
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