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Are you paying a minimum card bill? Beware of renewed interest

Many bank customers who face tight budget months take the opportunity to split the total amount of Credit card, The minimum payment or even any amount, and the rest that must be paid is pre-funded Fiduciary.

The problem is that the average rate of this type of interest is very high in Brazil, according to the central bank, in March 2019, it was 298.6% annually. To make matters worse for those who get stuck in this snowball, according to a survey by Digio, a digital bank, 50% of people who pay the minimum card bill amount don’t know that the interest will be charged.

So, before getting into revolving credit, be aware and familiarize yourself with the fees your bank charges. To avoid having to resort to installments, write down your expenses and control what you buy and where your money goes.

Plus, whenever you can, pay the bill in full and stay away from high interest rates. But if this is not possible, pay any amount from the bill, as it is better to settle something rather than leaving the entire bill late. It should be noted that a revolving credit can only be used once a month.

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