How it is correct to use a grace period on a credit card?
U of many of us are credit cards of this or that bank now, and at some, is sure, and several pieces. All know that the majority of credit cards has a grace period during which it is possible to return the withdrawn money, at the same time without overpaying anything. But not everything is as simple as it seems at first sight.
In this article just - the speech about nuances of a grace period on credit cards which bank employees like to hold back, but which are accurately stated in contracts will also go.
Deviating from a subject a little, would like to tell that two - three years ago everything was simply, and the majority of these bank cunnings was not therefore it was much simpler to use this most grace period. Well, and now about everything one after another.
The first what many absolutely forget about, is the commission for removal of money in the ATM, that is for cashing in. There is no such payment on salary cards, but on credit cards it is, and makes 3-5% of the removal sum. There is also minimum commission - for example, 30 rubles. That is even at a sjema of 100 rubles you pay not 3% (3 rubles), but the minimum commission of 30 rubles. Thus it turns out that, having removed 100 rubles, you instantly owe bank 30 more even if today you are going to repay a debt.
The second about what bank workers, so it that in a grace period only the annual rate is equal to 0% are silent, and the service charges of the card are all the same raised. It is small, about 1-2 dollars, irrespective of a credit limit and the withdrawn funds.
The third. In some banks the grace period works only for those removals at which calculation was made via the terminal in shop (or on the Internet) and if you withdraw money in the ATM, then a grace period for you it is not necessary.
And the last important nuance - charge of percent after a grace period. I will give an example. You pay off the card in a supermarket, you have a certain term of a grace period during which you do not manage to put money back or return not everything. You have according to the card of 2,5% a monthly commission. You think that percent will be charged only from the next day after end of a grace period, and is not present, companions, it is necessary to pay also for all grace period on standard percent. That is, if you did not manage to put money until the end of a grace period, then it as if evaporates, and percent will be counted to you from the moment of removal.
Here such interesting features were thought up for us by bank bigwigs, and now favourably to use a credit card, it is necessary to use it very accurately not to violate any clause of the contract.
Yes, the nuances described by me with a grace period are on cards not of all banks, or there are only some, but nevertheless before design of the card the bank worker should set a number of questions:
- Whether the grace period at cash withdrawal in the ATM works?
- whether Is raised card service charges in a grace period?
- whether Will be added percent for a grace period if I do not keep within it?
- the Grace period is established to 5, 15, 25 numbers of the next month, or the term of a grace period is counted from the moment of withdrawal of funds?
Well, and in conclusion would like to call you, dear readers, not to use a credit card without urgent need, it is better to borrow close relatives and not to have problems with bank.