What is the handling fee?
It refers to the cost they pay to the bank for using the credit card. This value is based on the type of credit card and the benefits offered by the bank. They are charged in (2) ways:
- Advance : the bank invoices prior to the established period. In January they pay the February fee. Monthly in arrears.
- Overdue : the bank invoices the handling fee after the established period. In February they pay the January fee.
The handling fee can be different in the monthly, quarterly and semi-annual periodicity, it has possibilities monthly expired, quarterly anticipated, etc. A quarterly fee in advance in March pays the fee for April, May and June.
What is the purchase interest rate and how does it work?
It is the interest to pay for deferring purchases to more than one installment. For a purchase totaling $ 1,000,000. The interest rate of 2.10% per month or 26% per year and / or the handling fee of ($ 14,000 per month.
What benefits does the credit card offer?
The benefits depend on the type of customer and the use of the credit card. Some credit cards for young people offer special benefits, other cards for women offer exclusive benefits, for entrepreneurs, for frequent travelers, university students, in addition to other profiles.
Credit card quota
The amount of the credit card depends on:
- Credit history : report generated by risk centers to banks to know how your credit behavior has been).
- Purchasing power : arises from income minus expenses and debts they have.
What extra expenses can I have with the credit card?
In addition to the handling fee and the amount to be paid monthly for the consumption of the credit, they can have other benefits that have costs and are charged to the credit card. They may be:
– Debtors insurance: access to life insurance for debtors due to death, disability, unemployment or theft and full coverage of the debt. To access the insurance they must pay $ 2,937 per month.
– Priority Pass: Platinum credit card benefit, membership = 6 free tickets per year to VIP lounges around the world. The amount of the additional entry is charged to the credit card for USD27.
– Cash advances with Credit Card: at your own ATMs, at other banks, online and at a commercial office. The amount is charged to the credit card.
How many types of credit card franchises are there?
The credit card franchises, the most used are MasterCard and Visa, Diners Club and American Express:
- Classic or standard card: used nationally and internationally. They are the classic and most popular cards universally accepted in shops and services.
- Gold or gold card : it is the card called Oro or Gold or Dorada. Worldwide recognized, it is a prestigious card.
- Platinum Card: a silver-gray card for people with high purchasing power, with exclusive benefits and services, for those with a sophisticated lifestyle.
- Black Card: the most exclusive credit card of all for clients with a high socioeconomic profile and who seek excellence. It offers additional benefits, access to VIP lounges, 24-hour global assistance, plus other exclusive benefits.