Credit Card: Is there anything that can make you stand taller than an unpaid debt? Yes, a credit card debt, which has the highest interest rate in Brazil. In addition, a recent Protest study comparing credit card fees charged in eight countries has once again revealed that Brazil has the highest.
I didn’t pay my credit card, now what?
There are some options in case the delay occurred due to lack of the necessary money:
Pay at least minimum invoice
So the monthly bill came higher than you had calculated and you are thinking of not paying the total or delaying it? Caution! When you delay the payment of the invoice, in addition to automatically entering the credit card revolving, you also pay interest. At least try to pay the minimum of the invoice and do not be late with the due. The Consumer Protection Code (CDC) stipulates that the amount of interest on arrears may not exceed 2% of the total amount.
Have you tried to renegotiate debt with your credit card?
If you can no longer pay the full bill each month, always paying the bare minimum, know that it is a dangerous practice and you are turning your debt into an even bigger snowball. This is because you are considering a budget you do not have, which is the limit of the card. Try to revise your budget and cut everything you can to balance your spending and not run the risk of having your name negated.
Say no to revolving credit!
One thing is important: that you understand that a credit card has the highest interest rate in Brazil. Now think about these interest rates and the acquisitions you could have made only with the amount you paid for them. Enough thing, no? So don’t spend what you can’t afford and avoid getting on the rotary as much as it is a trap for your checking account and financial health. Therefore, it is essential that you have done some planning and that this expense is not higher than your fixed accounts.
Have you tried all alternatives and been unsuccessful?
Debt transfer may be the only solution in this case when you can no longer pay the full card bill and the minimum. By applying for a loan online , for example, you can get rid of high credit card interest rates and be able to pay off the debt with better terms.
Is paying the card bill difficult?
Are you at that moment “I can’t pay the credit card, what to do?”? Well, before you have to try the solutions we described above, you can look for preventative solutions to pay your card bill month by month. See our tips:
Spending planning and analysis
Some part of the credit card limit is set aside for non-essential expenses, such as a romantic dinner with a partner or a bar with friends. The first basic rule for saving is to plan. These costs, however harmless they may seem, when taken together represent a good chunk of the card bill. So look at spending over the last 90 days and see how much you could have saved by cutting back on those small expenses.
Annuity disturbing? Think about negotiating it
If the annuity is part of the snowball that turned your bill, be aware that you don’t have to pay this fee if you don’t want to. This amount is charged by card operators and they justify it as a symbolic fee for the use of other benefits such as the miles program. You do not see the return of this administrative burden and one chance is to negotiate it.
Choose the best credit card for you
If you have good credit in the market you can try to negotiate with the card company to find a good option for you, with lower fees and even no annual fee.
The 13th salary will be your ally!
Taking advantage of the end of the year, workers who are in the CLT category count on 13th to boost last quarter’s income. As the value of the bonus is not low, we often end up using this money “wrongly” with year-end purchases, travel, etc. Therefore, if you have any outstanding debt, use the amount sparingly and preferably to settle the expense that has the highest interest, such as revolving credit or overdraft which, respectively, represent the highest rates charged by the market.