Installment of the credit card is still little known and not very popular way to lower interest on the loan. And with the interest rate on the loan can be reduced by half.
- For credit card every month, it is necessary to pay only a small fraction of the loan. the minimum repayment. This is usually 2-3 percent. amount of credit, not less than 20-50 PLN (depending on the card and the bank). However, you may remember that in the long-term repayment every month, only minimal amounts can cause the entire loan repayment will take a few years old – said Paweł Majtkowski, Principal Analyst Finamo.
The use of such a loan is also beneficial to the extent that we are not condemned to the highest possible interest rate, or 20 percent. By replacing ordinary ratalnym credit, banks can offer customers much better.
To use the rat on the card, you need to make a purchase on a larger amount (for example, more than 300 PLN). – The purchase is made in the ordinary way, and only two or three days after it is made the client must contact the card issuer and report a willingness to use the rat – Majtkowski translators.
The case looks a bit different in the case of credit cards issued by banks from hypermarkets, there is often a desire to take advantage of the credit must submit ratalnego already in hand store. The compensation is the fact that in many cases, the loan installment will not bear interest.
Often the person who purchases goods from a shop in the rat zero percent until finalizując transaction learns that it does not incur the usual credit ratalnego, but becomes the holder of a credit card with a free credit ratalnym.
The customer also selects, as far as rat wants to spread the purchases made (from 3 up to 36 installments). The Bank shall inform the customer about the same amount of monthly installment. Its height is also placed on each monthly statement of transactions made card.
The transaction is distributed in installments, as a simple transaction, reduces the amount available to the customer’s credit limit. Together, however, limit the payment of subsequent installments and increasing returns to normal after the total amount of repayment. The customer receives a monthly compilation of simple transactions, together with the entire amount of debt and the minimum amount. Repayment of each month consists of two components: ratalnego installment credit card repayment, and normal (at least the minimum payment).
Same card works the same, that the credit limit is reduced by the amount remaining to repay the loan ratalnego. As Paul explains Majtkowski, the customer may take several times of installment credit, you must pay a monthly installment of each of them and still make repayment of the card. – All banks put limits on the amount of credit that usually limit it to 75-80 percent. limit value cards – the main analyst Finamo explains.
Installment credit is lower than normal interest rate on interest-bearing cards. In most of the interest rate on banks’ credit ratalnego ranges from 10 to 15 percent., While the cards are remunerated at an average of 18 percent.
This is because this type of loan carries a lower risk for the bank, and gives him more control over the process of repayment. – Allow banks to distribute the installment of the non-cash transactions such as shopping in stores, as well as cash – the Majtkowski. This applies to both the payments of cash, and cash transfers made from an account card.
For example, BZ WBK offers all of its credit card holders credit called Ratio. With it may be broken down into one or more installment transactions card. The condition is that their total value was higher than the quota-you 500 €.
For use with the ratio selected transactions are spread over a maximum of 18 monthly installments. Wireless connectivity with the customer repays the monthly settlement of the card, so that in the bank account must be received installment credit and the normal amount you repay your credit card (minimum or higher). Citibank also offers a credit card owners of the installments plan called Comfort. The minimum value of the transaction, which can be broken down into installments, to 800 €.
The client may spread the Polbanku installment on any transaction with a value above 500 PLN made by credit card or Visa Electron Visa Classic. Such transactions may be few, but each must be for a total of more than 500 €. The desire to distribute the transactions to the installment can be submitted to the bank, even during the two months afterwards. Attractive be proposed by the Pol-bank financial parameters – from the amount distributed in installments are not charged any interest – but only one-time fee of 5 percent. rozkładanej the sum in installments.
