Keys to properly manage your revolving credit

Keys to properly manage your revolving credit

One of the most attractive financial solutions offered by entities for free consumption today are the revolving credits. And it is not a surprise, because the possibility of renewing the available quota as payments are made, gives users the ease of having resources immediately and in cash to solve any investment or need for resources, without needing. Do all the paperwork again.

Difference between credit card and revolving credit

You will be thinking: this is how a traditional credit card works, right? The answer is NO. Although they have similar characteristics, such as that the quota (or borrowing capacity) are allocated according to the income of the person requesting it, they have marked differences.

How to properly manage a revolving credit?

Undoubtedly, this form of financing can be attractive to many, but we must not lose sight of the fact that it is a financial obligation, and that as such, it must be handled with restraint. Keep these 5 aspects in mind when purchasing it.

Get informed

Do not stay with the doubt of anything. At the time of request, ask the financial institution to explain in detail, all about the settlement of fees, the interest you will cancel for using your credit, handling costs, taxes and other issues that fall into the use of your product.

Take security measures

When you request the uses of your credit, do not do it in public places or in the company of people who can know your data to perform this type of operations.

Also, when you require virtual advice, do so by entering only the   official page of your entity , writing the address of the page in the browser bar. These pages usually have the secure hypertext transfer protocol (HTTPS) at their address, which will protect your information. Never access through external links.

Note: You can verify that you are on a secure transaction page by checking whenever the address of the page starts with “https: //”.

Pay responsibly

This credit is to solve your liquidity problems, so you should try to pay what you use as soon as possible, in this way you will always have available the entire quota of your loan for future needs.

Therefore, keep in mind the dates on which you must pay the fees, failure to pay your fees may result in the limitation or suspension of your credit.

Decrease your debt

Paying capital or consigning extra money outside of the monthly installments will help you quickly release your available quota, which in addition to decreasing your monthly obligation, will help you boost your profile as a good financial consumer.

Check your transactions

It is necessary that you maintain a strict control of all the transactions that you carry out with your revolving credit, if you find any inconsistency or ‘something does not fit you’ immediately contact the entity.

Rotary credit Fundcoya

Request your credit with Funcomercio and in addition to having immediate activation, You will have at your disposal a credit concuotas, term and fixed rate for each use.

We hope this post has helped you and remember that the “good” or “bad” debts do not exist, because the success of these loans lies in knowing how to handle them so as not to fall into over-indebtedness.

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