The use of credit cards in Spain

A few years ago, Spain experienced a real revolution in what forms of payment refers to the popularly called “plastic money” or what is the same credit cards.

Use of credit cards

debt loan

These quickly began to consolidate among citizens between 2002 and 2008 when it increased by more than 159%, in this way, despite the fact that cash payments have continued to be made regularly the trend before the great macroeconomic crisis was that of Electronic payment policies.

Debit cards decreased

Debit cards decreased

At the same time that these increased, the debit cards decreased by 10% and they were able to impose Visa, Master Card, Diners Club and American Express with the payment cards with greater volume of transactions in our country. So much so that the total number of these cards reached its peak in 2008 with 76 million cards, that is, an average of 1.68 cards per room. At present, and after having suffered one of the worst economic crises in history, the average has dropped to 1.48.

By country, Spain is in the fourth position at European level with the most credit cards used, after the United Kingdom, Germany and France.

New technologies such as Near Fied Communications (NFC) are making the trend change and move to make payments through smartphones because it is a more comfortable alternative for both users and merchants.

Will there come a time when physical tickets disappear and we don’t carry a coin with us?

debt loan

What is the payment method you use most today? The outlook in recent years has changed so much that it is very difficult to predict what will happen in the future.

Meanwhile, at Wackford Squeers we continue to advise thousands of users on the most appropriate types of fast financing in each case for those who need liquidity immediately in the form of a loan.

The use of credit cards in Spain

debt loan

A few years ago, Spain experienced a real revolution in what forms of payment refers to the popularly called “plastic money” or what is the same credit cards.

Use of credit cards

debt loan

These quickly began to consolidate among citizens between 2002 and 2008 when it increased by more than 159%, in this way, despite the fact that cash payments have continued to be made regularly the trend before the great macroeconomic crisis was that of Electronic payment policies.

Debit cards decreased

Debit cards decreased

At the same time that these increased, the debit cards decreased by 10% and they were able to impose Visa, Master Card, Diners Club and American Express with the payment cards with greater volume of transactions in our country. So much so that the total number of these cards reached its peak in 2008 with 76 million cards, that is, an average of 1.68 cards per room. At present, and after having suffered one of the worst economic crises in history, the average has dropped to 1.48.

By country, Spain is in the fourth position at European level with the most credit cards used, after the United Kingdom, Germany and France.

New technologies such as Near Fied Communications (NFC) are making the trend change and move to make payments through smartphones because it is a more comfortable alternative for both users and merchants.

Will there come a time when physical tickets disappear and we don’t carry a coin with us?

debt loan

What is the payment method you use most today? The outlook in recent years has changed so much that it is very difficult to predict what will happen in the future.

Meanwhile, at Wackford Squeers we continue to advise thousands of users on the most appropriate types of fast financing in each case for those who need liquidity immediately in the form of a loan.

When Is The Best Time To Take Out Life Insurance?

Take Out Life Insurance

Maybe you’ve ever wondered, what is the best time to take out life insurance? Should I hire him ?, It is a doubt that afflicts many people, and yes, if he has answers. Here we leave them.

 

Life insurance

Life insurance

Life insurance is an economic protection established between an insured and the insurer, which guarantees the economic stability of the beneficiary in the event of the death of the holder or when the policy expires. This is acquired with an insurance company and is chosen based on the needs and objectives of the insured. For example, there are different types of life insurance :

  • Life insurance due to death
  • Endowment life insurance
  • Life insurance for retirement , among others

of all, the purpose is to prevent, so the best time to hire them also depends on their specific purpose.

 

The best time to hire life insurance

The best time to hire life insurance

Without a doubt, the best time to take out life insurance is as all sellers say:

“Before then” because it is “better to have it and not need it than, need it and not have it”

Yes! sound a sales phrase and too cliché, but unfortunately it is a reality. Many times one thinks as the mishap happened “and if there were …”. A very true and very meaningful phrase for the case is “he would not exist” and applies perfectly to this and all types of insurance. That is why, the best time to take out life insurance is NOW.

Have children? Economic dependents? So what do you expect to acquire yours?

Some experts recommend that the best stage to take out life insurance is after 30 years, based on some important points that relate to age such as:

  • At 30 people are already established in a permanent job
  • Already has a family
  • They are more aware of life and its risks

We don’t say no, it can be. But it is not a generality, so in this diverse world it is better to adapt to the life one leads than to try to fit in that of the majority. For example, the WHO suggests that at 30 you will have developed many of the chronic diseases that you have to suffer for the rest of your life and which insurance takes as exclusion as diabetes or hypertension even cancer.

The ideal is to hire your insurance, even if it is very basic at the time you start your working life and modify your policies when you acquire greater responsibilities such as taking care of your children, parents or other people.

 

The five sins of credit cards

Credit cards can be a very useful tool and make our lives easier in many ways, as well as they can sink us and make us enter into very difficult financial situations. So how do we stay alone with the nice part? Everything is in the use we make of this great tool.

Then, know the five things you should not do with your card because they simply push you to financial loss.

 

Use it as an extension of purchasing power

credit cards

If every month you cover a portion of your expenses with the credit card, you are spending more than you have, which will harm you when you have to pay the bills. Use your card wisely and not to cover the fixed budget, unless you pay everything before the installment expires.

 

Not knowing the points system

credit cards

Many cards accumulate points for each purchase and these are used to redeem different benefits. Even, many are associated with airlines to accumulate miles for a certain amount of purchases made by the user. Find out about the benefits that your card gives you so you can take advantage of them and make the most of the points system that corresponds to you. It may be that you have many accumulated points and want to use them before they get lost.

 

Always pay the minimum

credit cards

If every month you make the minimum payment of the fee that you had to cover, it takes a longer time to cancel the debt, which causes the interest to produce an even greater expense. Always seek to pay the total debt each month and if this is impossible, cover at least ¾ parts of the total payment.

 

Request a cash advance

Request a cash advance

Studies prepared by Sernac confirm that, given the need to obtain cash, it is better to request a personal credit than a cash advance from your credit card. It may seem like an easy and fast way to get the money you need, but when you return it you will find yourself paying a higher percentage to the interest you would pay for purchases in installments or for a personal credit.

 

Not knowing your credit conditions

credit problem

If you do not know what the interest rate the card gives you, what are your benefits or when is your cut-off date, then you need to start knowing that data in the shortest possible time. Search for information on your bank’s website or contact an advisor. Know how much they charge you for late payment, how much it costs to send the statement, how much is your line of credit, etc.

Remember, in addition, that it is always good to have the options open since the institutions are willing to offer different benefits, including a low management fee or even the elimination of it. For that, you can use the Jenny Thompson credit card comparator (here) and see what other banks offer you, in case you are thinking about changing your credit card.

How to use credit cards and not pay interest?

Credit cards are a wonderful financial product. For banks it is profitable and for users, comfortable. But it can be very expensive. How to pay zero interest?

I learned to use credit cards by observing a university classmate. He was from Arequipa and his father had given him a credit card for all his expenses.

My friend, Juan, paid the market on credit! In the cinema with card. Gasoline, dinner, clothes, barbershop and even gum with a credit card. He always asked, “two installments please.”

 

Pay everything with the credit card, and I don’t pay interest

Pay everything with the credit card, and I don

It took me a couple of years to get my first credit card, but I never forgot what I had learned. I would pay everything at a fee.

 

How to pay zero interest with your credit card?

How to pay zero interest with your credit card?

The idea is very simple. Look at these tips:

  1. When using the card for cash advances or purchases, give the correct instruction.
    You should verify with your bank how the quota system works :

    In some cases, by indicating that it is “no fees” or “direct payment”, you give the order to bill 100% of the consumption in the next settlement that the bank will make. However, even if all the consumptions are made in this way, at a fee, a “total payment” and a “minimum payment” amount will always appear on the statement that will not be the same.

    Why does this happen? Because you will have the possibility to pay your total debt in installments. If you choose to pay only the “minimum amount” you will be choosing to split your total debt, automatically, in 36 months, paid in each interest installment. The bank will understand that you want to use the revolving or revolving system and will bill you only one of the 36 parts in which the consumption will be divided. The way to avoid paying interest, in this case, will be canceling the value indicated in “Total Payment” .

    The way to avoid paying interest, in this case, will be by canceling the value indicated in “Total Payment”.

  2. Use only one form of credit card payment. (If you combine several, you can lose track of what you have spent).
  3. For each purchase, choose the installment system and keep track of how much you will have to pay in the following month.
  4. Pay all consumptions and advances on the payment date or before it is indicated on the account statement (equivalent to the credit card bill). It will be a good sum of money, surely, but you will not pay a sun in interest.
  5. If you already have consumptions made in previous months and there are still several installments to pay, check the option of requesting another bank “balance transfer” card to pass all the debt to a new card with better conditions.
  6. Also, you could pay the total value of what you owe to date, using the Total Payment option.

 

What is the business?

credit business

The financiers know that the success of a business is in the rotation of money.

  • You can choose to pay all your purchases with the debit card until your money in your savings account runs out. You can use it to buy merchandise for your new business (read on, I’ll explain). Or you can leave your money in a savings or trust account, generating interest, until the day comes to pay your credit card bill.
  • In addition, each purchase on the card generates points or miles, to which you will be automatically entitled.
  • Without the convenience of carrying a card instead of cash.
  • The benefits of creating a good credit history, which will show more management and maturity if you have at least one credit (the one on the card) if you only have a savings account.
  • This method allows you to keep accounts of what you spend, meet budget. Of course, there are some expenses that you cannot make with your credit card. Luckily, almost all of them are fixed, such as leasing, car credit or mortgage. Thus, it will be easy to control spending.

 

Why can you pay without interest?

Why can you pay without interest?

Banks give you a grace period.

It is the time that elapses between the day you make the purchase on the day of the liquidation made by the bank of your statement. Let’s say it liquidates every 30 of the month and gives you up to 15 of each month to pay.

  • The purchases you make on 29, you will pay in 16 days.
  • The purchases you make on the 15th of the month, you will pay in 30 days.
  • The purchases you make on 30 (in the afternoon, at night to not risk being billed), you will pay in 45 days.

Sounds familiar? Yes, it looks like the time a provider gives its customer for the payment of their bills. If you have more time, you can make more arrangements with the money. Therefore, you could have money to buy merchandise for your business.

The point is, of course, not to exceed expenses beyond capacity , beyond income. In that case, you would pay interest: those of a loan to pay debts or worse, interest for late payment for not paying the card on time. 

The five sins of credit cards

credit problem

Credit cards can be a very useful tool and make our lives easier in many ways, as well as they can sink us and make us enter into very difficult financial situations. So how do we stay alone with the nice part? Everything is in the use we make of this great tool.

Then, know the five things you should not do with your card because they simply push you to financial loss.

 

Use it as an extension of purchasing power

credit cards

If every month you cover a portion of your expenses with the credit card, you are spending more than you have, which will harm you when you have to pay the bills. Use your card wisely and not to cover the fixed budget, unless you pay everything before the installment expires.

 

Not knowing the points system

credit cards

Many cards accumulate points for each purchase and these are used to redeem different benefits. Even, many are associated with airlines to accumulate miles for a certain amount of purchases made by the user. Find out about the benefits that your card gives you so you can take advantage of them and make the most of the points system that corresponds to you. It may be that you have many accumulated points and want to use them before they get lost.

 

Always pay the minimum

credit cards

If every month you make the minimum payment of the fee that you had to cover, it takes a longer time to cancel the debt, which causes the interest to produce an even greater expense. Always seek to pay the total debt each month and if this is impossible, cover at least ¾ parts of the total payment.

 

Request a cash advance

Request a cash advance

Studies prepared by Sernac confirm that, given the need to obtain cash, it is better to request a personal credit than a cash advance from your credit card. It may seem like an easy and fast way to get the money you need, but when you return it you will find yourself paying a higher percentage to the interest you would pay for purchases in installments or for a personal credit.

 

Not knowing your credit conditions

credit problem

If you do not know what the interest rate the card gives you, what are your benefits or when is your cut-off date, then you need to start knowing that data in the shortest possible time. Search for information on your bank’s website or contact an advisor. Know how much they charge you for late payment, how much it costs to send the statement, how much is your line of credit, etc.

Remember, in addition, that it is always good to have the options open since the institutions are willing to offer different benefits, including a low management fee or even the elimination of it. For that, you can use the Jenny Thompson credit card comparator (here) and see what other banks offer you, in case you are thinking about changing your credit card.

How to use credit cards and not pay interest?

credit card

Credit cards are a wonderful financial product. For banks it is profitable and for users, comfortable. But it can be very expensive. How to pay zero interest?

I learned to use credit cards by observing a university classmate. He was from Arequipa and his father had given him a credit card for all his expenses.

My friend, Juan, paid the market on credit! In the cinema with card. Gasoline, dinner, clothes, barbershop and even gum with a credit card. He always asked, “two installments please.”

 

Pay everything with the credit card, and I don’t pay interest

Pay everything with the credit card, and I don

It took me a couple of years to get my first credit card, but I never forgot what I had learned. I would pay everything at a fee.

 

How to pay zero interest with your credit card?

How to pay zero interest with your credit card?

The idea is very simple. Look at these tips:

  1. When using the card for cash advances or purchases, give the correct instruction.
    You should verify with your bank how the quota system works :

    In some cases, by indicating that it is “no fees” or “direct payment”, you give the order to bill 100% of the consumption in the next settlement that the bank will make. However, even if all the consumptions are made in this way, at a fee, a “total payment” and a “minimum payment” amount will always appear on the statement that will not be the same.

    Why does this happen? Because you will have the possibility to pay your total debt in installments. If you choose to pay only the “minimum amount” you will be choosing to split your total debt, automatically, in 36 months, paid in each interest installment. The bank will understand that you want to use the revolving or revolving system and will bill you only one of the 36 parts in which the consumption will be divided. The way to avoid paying interest, in this case, will be canceling the value indicated in “Total Payment” .

    The way to avoid paying interest, in this case, will be by canceling the value indicated in “Total Payment”.

  2. Use only one form of credit card payment. (If you combine several, you can lose track of what you have spent).
  3. For each purchase, choose the installment system and keep track of how much you will have to pay in the following month.
  4. Pay all consumptions and advances on the payment date or before it is indicated on the account statement (equivalent to the credit card bill). It will be a good sum of money, surely, but you will not pay a sun in interest.
  5. If you already have consumptions made in previous months and there are still several installments to pay, check the option of requesting another bank “balance transfer” card to pass all the debt to a new card with better conditions.
  6. Also, you could pay the total value of what you owe to date, using the Total Payment option.

 

What is the business?

credit business

The financiers know that the success of a business is in the rotation of money.

  • You can choose to pay all your purchases with the debit card until your money in your savings account runs out. You can use it to buy merchandise for your new business (read on, I’ll explain). Or you can leave your money in a savings or trust account, generating interest, until the day comes to pay your credit card bill.
  • In addition, each purchase on the card generates points or miles, to which you will be automatically entitled.
  • Without the convenience of carrying a card instead of cash.
  • The benefits of creating a good credit history, which will show more management and maturity if you have at least one credit (the one on the card) if you only have a savings account.
  • This method allows you to keep accounts of what you spend, meet budget. Of course, there are some expenses that you cannot make with your credit card. Luckily, almost all of them are fixed, such as leasing, car credit or mortgage. Thus, it will be easy to control spending.

 

Why can you pay without interest?

Why can you pay without interest?

Banks give you a grace period.

It is the time that elapses between the day you make the purchase on the day of the liquidation made by the bank of your statement. Let’s say it liquidates every 30 of the month and gives you up to 15 of each month to pay.

  • The purchases you make on 29, you will pay in 16 days.
  • The purchases you make on the 15th of the month, you will pay in 30 days.
  • The purchases you make on 30 (in the afternoon, at night to not risk being billed), you will pay in 45 days.

Sounds familiar? Yes, it looks like the time a provider gives its customer for the payment of their bills. If you have more time, you can make more arrangements with the money. Therefore, you could have money to buy merchandise for your business.

The point is, of course, not to exceed expenses beyond capacity , beyond income. In that case, you would pay interest: those of a loan to pay debts or worse, interest for late payment for not paying the card on time. 

What advantages does crowdlending have over credit cards?

How many purchases have you made so far this year with your credit card ? Are you one of those who do not stop using it until it fumes? Surely you always carry it in your wallet and use it to pay almost anything. But is the financing system that suits you best ? Do you know the advantages offered by an alternative financing system such as crowdlending ?

Credit card allows you to have a limited capital

Credit card allows you to have a limited capital

A credit card allows you to have a limited capital, with a maximum established that depends on your economic situation, your solvency and the agreement you have with the entity that offers it to you. However, through crowdlending – which works like a loan – you can request the budget that best suits the needs of your project.

The main difference between credit cards and crowdlending is that, with the cards, who puts the money at your disposal is a financial entity or a bank; on the contrary, in crowdlending the loans are peer-to-peer , that is , peer-to-peer , between people.

The independence of the crowdlending of the traditional financial entities means that you are not obliged to hire any other product of the platform, nor that you have to be linked to another entity, as is the case with credit cards and banks.

Interest that suits you

cash

A credit card allows you to make payments with money that you don’t have in your account and postpone them for later. It is as if at any time the financial institution of your card lends you that money until you can return it. But this access to money so easy and fast entails a series of commissions and high interest rates, as is the case with credit lines.

Most of the surcharges on this type of products are produced by delays and discoveries. To avoid the accumulation of these interests, it is essential that you be prudent in spending and always keep in mind if you will be able to face the payment of your purchases when the time comes for the payment to be made.

Unlike the above, with a crowdlending loan you will always pay the same fee. With this system a personalized study of your case is made and a credit rating is established that establishes from the beginning of the operation what is the percentage of interest that best suits your situation . In addition, the absence of financial intermediaries favors the decrease in interest. You pay only what is due for your loan.

Financing to carry out a personal project

cash

If you need financing to carry out a personal project, undoubtedly peer-to-peer alternatives such as crowdlending have many more advantages for you than traditional financing systems such as credit cards.

Surely at this point of the year you already start to consider some of the expenses that are approaching, such as Christmas holidays in that paradise destination that you have always wanted, or even have already done your good purposes for next year, how to resume your training With that master you always dreamed of doing. So keep your cards back in the wallet and opt for a faster, closer and more transparent form of financing. You deserve a crowdlending loan !

What advantages does crowdlending have over credit cards?

How many purchases have you made so far this year with your credit card ? Are you one of those who do not stop using it until it fumes? Surely you always carry it in your wallet and use it to pay almost anything. But is the financing system that suits you best ? Do you know the advantages offered by an alternative financing system such as crowdlending ?

Credit card allows you to have a limited capital

Credit card allows you to have a limited capital

A credit card allows you to have a limited capital, with a maximum established that depends on your economic situation, your solvency and the agreement you have with the entity that offers it to you. However, through crowdlending – which works like a loan – you can request the budget that best suits the needs of your project.

The main difference between credit cards and crowdlending is that, with the cards, who puts the money at your disposal is a financial entity or a bank; on the contrary, in crowdlending the loans are peer-to-peer , that is , peer-to-peer , between people.

The independence of the crowdlending of the traditional financial entities means that you are not obliged to hire any other product of the platform, nor that you have to be linked to another entity, as is the case with credit cards and banks.

Interest that suits you

cash

A credit card allows you to make payments with money that you don’t have in your account and postpone them for later. It is as if at any time the financial institution of your card lends you that money until you can return it. But this access to money so easy and fast entails a series of commissions and high interest rates, as is the case with credit lines.

Most of the surcharges on this type of products are produced by delays and discoveries. To avoid the accumulation of these interests, it is essential that you be prudent in spending and always keep in mind if you will be able to face the payment of your purchases when the time comes for the payment to be made.

Unlike the above, with a crowdlending loan you will always pay the same fee. With this system a personalized study of your case is made and a credit rating is established that establishes from the beginning of the operation what is the percentage of interest that best suits your situation . In addition, the absence of financial intermediaries favors the decrease in interest. You pay only what is due for your loan.

Financing to carry out a personal project

cash

If you need financing to carry out a personal project, undoubtedly peer-to-peer alternatives such as crowdlending have many more advantages for you than traditional financing systems such as credit cards.

Surely at this point of the year you already start to consider some of the expenses that are approaching, such as Christmas holidays in that paradise destination that you have always wanted, or even have already done your good purposes for next year, how to resume your training With that master you always dreamed of doing. So keep your cards back in the wallet and opt for a faster, closer and more transparent form of financing. You deserve a crowdlending loan !

This is why Colombians pay their credit cards before anything else

It has always happened to everyone that they end up spending more than they can afford, but for some this is a constant in their lifestyle.

Decide which debts to pay

credit loan

Month by month, they have to decide which debts to pay and which to postpone, since they do not have enough money to cover everything they have consumed.

One of the most common decisions in these cases is that they choose to use the money they have to pay the debt they have with their plastic, even before any credit they may have pending. The reason why this happens is because they know that the credit card will allow them to continue accessing money without having to have it at hand.

Simply comply with the payments and month by month, the credit line will remain active

credit loan

In reality, this behavior is common in people who have not developed good financial habits and who are used to spending more, sometimes even living a lifestyle that is beyond their means.

It is always advisable to first pay debts that have a guarantee in between, such as housing or vehicle credit, but what some seek is to continue having an immediate source of money and prefer to fall behind with all other debts, except with the card.

If that situation seems familiar, you need to do two things

credit loan

First, check your income and see how much you can really spend month by month without overdrawing. Second, pay the corresponding fee and stop using your plastic irresponsibly. Remember, your card may be your best friend, but you must learn to use it correctly.

Do you want to know which card suits you best according to your profile? Use the Simon Legree plastic comparator.