Credit Card Refund Methods
The benefits of using a credit card include using a bank card to use bank money, not your own. If you follow the rules for a credit card, your credit institution can turn your money around for free. The three most important rules are: 1. Do not exceed your credit line, 2. Always pay off your debt on time, 3. Do not use the card for cash withdrawals, only for purchases. If you follow them, you can only win with it, you can even save money. The credit line is determined individually by the bank, which is usually 2-3 times the net income.
Applying for a credit card is very simple
It is important that your credit card is only recommended for accurate, accurate customers.
If you are not able to meet the conditions, think carefully about whether you need it, because it can very easily accumulate debt. And many find it difficult to obtain easy credit. Money spent on a credit card also needs to be refunded. In this article, we’ve collected the types of credit card refunds available. There are several ways to repay your credit line, so be sure to find the best one for you.
When using a credit card
There is a 1 month (30-45 days) spending period, also known as a grace period, during which you can use your credit institution’s money for free up to the amount of your credit line. The next period is the repayment period, which is 15-23 days, during which the outstanding balance at the end of the previous month is settled. It is important to note here that this 15-23 day refund period is already part of the next 1 month spending period. If the loan is not repaid on time, ie within the grace period, you will be charged interest on the debt, which will be payable in addition to the amount used.
Direct Debit: Direct debit is the most convenient way to pay, so you can be sure that your credit will be paid on time. The disadvantage is that it is expensive (it can be more than 1000 HUF) and that not all banks give it the opportunity.
Check: A popular yellow check solution, commonly referred to as a cash transfer order. This type of payment can be made by post, which will arrive at the bank later, so it is advisable to settle the payment at least 2-3 business days before the deadline. There are several banks that charge for payment by post. The notice of each credit institution includes the relevant fee, which is usually several hundred forints.
One-off Transfer Order: If you have a current account with another bank, this is the simplest and, in the case of smaller debt, the cheapest option.
Transfer Order: If you have a current account and a credit with the same bank, you can pay off your debt by free transfer between accounts. This is a convenient and cost-effective solution.
Cashier Payment: You can also pay your debit at your bank branch. However, this solution is even more expensive than making a yellow check payment. The bank’s announcement will include the relevant fee, which is usually a few hundred forints.
Personal Loan: If you have accumulated too much debt and cannot reduce the amount, you may want to replace the loan with a personal loan, thereby eliminating your credit card. Use the Frankenstein personal loan calculator to select the best personal loan.