What is a credit card for? Take advantage of it!

A credit card is a plastic or metal card issued by financial institutions, which works as a means of payment in those cases in which there is not enough cash to buy a good or service at that time. Keep reading because by the end you will have learned how you can use it and get the most out of it !

1. Finance your purchases 

Credit cards are very useful when making purchases of high values that, otherwise, would take you a long time to acquire, since you should save the entire cost to materialize it. These are usually less frequent purchases that mark a before and after in your quality of life or business . For example: a new dining room, a computer for your office, or an appliance for your home.

The great advantage of credit cards , such as Banco Pichincha Visa / Mastercard , is that they allow you to defer your purchases to installments with or without interest, depending on the establishment. Thus, the payment of that expensive good or service is easy to cover at accessible amounts that are paid monthly until fully paid in the medium or long term.

2. Take advantage of the special benefits for you

Credit cards also usually offer a series of benefits so that you save money or have payment facilities. This includes promotions, discounts and interest-free deferred in various categories of establishments such as wellness, restaurants, hotels, cars, home shopping, etc. Depending on the situation, you can find good options for the holidays, back to school, Christmas as well as for trips, take care of your health, buy in fashion stores or go to the best restaurants.

3. Face emergencies and unforeseen

Emergencies and eventualities are not announced… they just come! Ideally, you should have an emergency fund, but if you don’t, credit cards become the guardian angel of your finances . 

The credit card is used to cover high amounts in case of an emergency. Then, you can call Telephone Banking and request the deferral of the number of installments that is comfortable for you to cover so as not to affect your personal or family finances. You also have the option of requesting Cash Advances or Express Cash . In this way, you will have no more unnecessary worries and you can focus on emerging victorious from that emergency that you did not see coming. 

What a relief! Truth?

4. Build your credit history

On the other hand, you can use your credit cards to build a credit history . By being disciplined with the payment of your deferred or current consumption and by respecting the maximum payment dates, you are showing financial institutions that you are a good debtor and that you promptly meet your financial obligations. 

On the contrary, if you are not responsible with your debts, you are behind in payments or you cannot assume your pending values, you are showing that you are not a good debtor, therefore your credit score will not be so good. 

The use of credit cards and the qualification of your credit history translate into credit opportunities for the financing of personal or commercial projects, such as buying a house, a car or expanding your business. 

5. Cover your travel expenses

Consigning your bags, running around, finding your waiting room… and carrying bundles of cash that can be lost in an oversight? Do not do it anymore! 

Credit cards are a very useful tool for when you go on a trip because your money will always be at hand without the need to carry large amounts of money that only make you feel insecure and worried. In addition, most cards such as Banco Pichincha Visa / Mastercard are accepted abroad without any inconvenience. So you will enjoy and walk calmly knowing that you will make your payments and purchases without “buts”. 

6. Buy online and remotely

The coronavirus pandemic transformed our lives and also the way we purchase goods and services. There is no better time than this to take advantage of the ease with which you can make purchases online , from wherever you are and without physical contact, with your credit cards . 

In 2020 and until April 2021, in Ecuador there have been 4.1 million credit card transactions in online stores , 8 out of 10 in international portals and 2 in national portals, according to data collected by the Ecuadorian Chamber of Electronic Commerce in the Ecommerce Day , in July this year. 

And as! If you cannot deny that making purchases online with a credit card is much easier, faster and more comfortable than going to the stores or even having to wait for a trip to bring what you need or want so much. In addition, many national physical stores are betting on online sales and offer discounts and interesting offers that you can take full advantage of.