Moms, These are 8 Mistakes to Avoid When Using a Credit Card

Credit cards are one of the most enjoyed banking facilities by customers. No wonder there are so many promotions and merchants working with banks to promote purchases using credit cards to increase their sales.

However, many of the credit card users use this one card irresponsibly. When in fact, by using a credit card, you are in debt with the bank. To avoid your finances being a mess due to a credit card, know what mistakes you might be making.

 

8 Mistakes Regarding Credit Cards

Here are 8 mistakes that are often made by credit card users that can get them stuck in credit debt.

 

Not Strategic in Use

Not Strategic in Use

Credit cards are made to anticipate crimes that can arise from the use of debit cards for shopping such as direct access to your account or spending without an intermediary. However. One of the advantages is that by using a debit card, you will be more protected from excessive shopping.

Many use credit cards without thinking about these benefits. Even though you should use a credit card strategically, for example, for large-risk transactions such as online buying and selling transactions or to avoid financial problems between sellers and buyers.

 

Late Paying

Late Paying

Your credit status will be bad if you pay late. In addition, you also have to pay interest due to late payments. Therefore, if you want to use a credit card, make sure that you can pay it in a timely manner. Mark your calendar or make a reminder 7 days before the date your bill is due.

 

Using a Credit Card Maximally

Using a Credit Card Maximally

Maximizing the use of your credit card to a limit can damage your credit, especially if you can’t pay it back. This can also avoid excessive shopping habits. Ideally, you can use approximately 30% of your credit card limit.

 

Owe

Owe

Credit card debt is one type of debt that can be very detrimental to you. Credit card debt can accumulate and gradually the amount will increase. Of course you don’t want your entire finances to run out just to pay off debts from your unnecessary shopping, right? Therefore, as much as possible avoid credit card debt.

 

Pay with a Minimum Amount

Pay with a Minimum Amount

When you want to pay a credit card bill, you must have seen a minimum payment option. Never be tempted to pay this amount. The first reason is that this can damage your credit status. The bank will judge that your finances are in trouble and you are likely to stop paying bills.

Second, the minimum payment is given with the loan interest on the amount that has not been paid. The interest on this loan can be very large, especially if accumulated, until the interest exceeds the amount you have not paid.

 

Not Checking Credit Card Bills

Not Checking Credit Card Bills

You must always remember to check your credit card bill because it is possible that the seller made a mistake in inputting the number or the bank put on a transaction that you did not do. Check whether the amount matches the receipt you saved, then whether you did the transaction.

By always checking bills, if the bank makes a mistake on your bill, you can report it immediately so that it can be processed quickly.

 

Withdraw Cash

Withdraw Cash

Like a debit card, your credit card can also be used for cash withdrawals through an ATM (Automatic Teller Machine). The difference is that the cash you withdraw using a credit card will be charged an interest of 20% (depending on the policies and regulations of the bank).

If you do not want to pay the loan interest, you should avoid using a credit card to withdraw cash. Arrange your shopping method so that you won’t run out of cash.

 

Don’t Care About Rewards

Don

Rewards are a bonus given from the bank to credit card users. This bonus is usually “free money” that you can use like a balance on your credit card. You get “free money” from using a credit card.

You should use these rewards , especially if there is a promotion from the merchant . Be careful when using these rewards, don’t be tempted to shop more just because you want to get more rewards .

 

Use Credit Cards Carefully

Credit cards are created to facilitate your shopping transactions, you don’t have to trouble carrying large amounts of cash, you can also easily save a card compared to the cash.

You should, as a responsible economic actor, you must avoid the mistakes mentioned above so that your finances will not fall apart later. By becoming a good finance minister, your family’s financial goals will be more easily achieved.

Do you have a credit card? How often do you use these credit cards? Have you ever experienced credit card debt? How do you deal with it and overcome it? Share your information with other readers so that they and you don’t make credit card mistakes many times.

Mortgage loan from EU country

A mortgage loan allows you to buy an apartment or house. Mortgages are provided by banks, credit unions and other credit institutions, and often the real estate itself serves as collateral for the loan.

In the case of a mortgage loan, the interest rate is generally lower and the repayment period longer than in the case of a consumer loan. However, if you fail to meet your repayment obligations and the mortgage collateral is on the property itself, the lending institution may seize and auction the property.

Banks are free to decide whether or not to accept your mortgage loan application. Before a mortgage lender offers you a mortgage, you need to check your creditworthiness.

Whether your financial situation allows you to borrow

money savings

In principle, you have the right to borrow a mortgage from a financial institution domiciled in another EU country. However, it cannot be ruled out that the lending institution will consider your country of residence or place of work when considering your application.

Therefore, you should be aware of the criteria that the lending institution will use to assess your creditworthiness. It is advisable to carefully study and compare the mortgage loan schemes offered by different lending institutions.

Creditworthiness test

money loan

Before offering you a loan, the lending institution should check whether you are creditworthy. You will decide this primarily based on the following criteria:

  • your financial situation (assets, debts, etc.),
  • the value of the property you intend to mortgage.

Therefore, the bank will ask you for a proof of income, since your income is decisive in determining whether you will be able to repay your loan.

The financial institution can offer you a mortgage only if you are able to repay the loan based on the results of the investigation.

If you believe that you have been discriminated against solely on the basis of your nationality, you can do the following: Contact the lending institution (its complaint department) or ask the bank for a written explanation as to why you rejected the mortgage application; if the refusal is based solely on your nationality, you should consult the FIN-NET financial dispute resolution network for out-of-court settlement of cross-border disputes between consumers and financial services providers (eg banks).

The Single European Data Sheet shall contain the following information:

  • the amount of the loan;
  • maturity of the loan;
  • the type of interest rate;
  • the total amount to be reimbursed;
  • Total Borrowing Rate (APR): Displays the total cost of borrowing with a single number. The total cost of the loan is expressed as a percentage of the loan amount to be repaid annually. THM helps you compare different offers;
  • any charges payable on a regular or ad-hoc basis;
  • the number, frequency and extent of the installments;
  • information on the terms of the prepayment and the fees you will have to pay if you decide to repay the loan earlier than agreed;
  • if you are borrowing in a foreign currency: Here are some examples of how the exchange rate can affect your mortgage loan.

The single European datasheet also allows you to compare offers from different lenders and choose the one that suits you best. If the creditor has not provided you with the Single European Data Sheet, you have the right to ask for it.

Under EU rules, the lending institution or credit intermediary must give you at least 7 days to evaluate the offer. In some EU countries, the law provides for a longer period. Depending on where you apply for the loan, this period can be: a reflection period during which you can consider whether the offer is right for you; withdrawal period within which you can change your mind and cancel a loan agreement that you have already signed; a combination of the two.

Early repayment of the mortgage loan

Early repayment of the mortgage loan

You generally have the option to repay all or part of your borrowed loan before the contractual repayment deadline. Early repayment allows you to reduce the amount of interest payable or to enter into a new, more favorable mortgage agreement with another credit institution. The law of each country governs whether or not a lender will be able to claim compensation if you repay the mortgage earlier than specified in the agreement. However, the compensation payable shall in no case exceed the financial loss of the lender from the early repayment.

Mortgage insurance, other services

money cash

Mortgage insurance can come in handy if you are faced with circumstances that prevent you from paying off your debt, such as death, illness or job loss. Lending institutions may require you to take out mortgage insurance. Sometimes the lender will offer you insurance along with the mortgage agreement, but you may not make use of the latter as a prerequisite for the contract. In any case, you have the right to choose from offers from other insurers – but wherever you take out insurance, the insurance coverage must be equivalent to what the lender requires. However, the lender may make it a condition for you to open a checking or savings account with which you will need to transfer the installments.

 

Good Finance Opinions and review of an EXPERT

Thanks to the evolution of technology and the Internet in recent years, the financial sector has also benefited, since through financial platforms they can operate a large loan application quickly and easily, this being the most suitable option . An international page that was originally created in Finland, but thanks to the growth, it was expanding in South and North America, Europe and Asia.

What is Good Finance? How does it work?

cash

The company is an online platform that provides international services in the financial field. It specializes in fully automated banking processes, offers credit approvals instantly with security, transmitting total confidence to the user.

These websites allow individuals to apply for credits or loans online from € 25 to € 5,000. While in the case of companies, they have the possibility to enjoy various options and financial solutions with ease of terms between approximately 6 months and 12 months.

It is one of the leading companies in Europe in terms of online loans to consumers and some medium-sized companies, it does not have any physical branch since its operation is mainly a mobile bank. It works 24 hours a day, seven days a week through its website, mail or live video chat. Opening an account in it only takes a few minutes, since no documentation is required. Through this you can manage accounts, request flexible credits, synchronize SureCard type credit cards and also, allow you to send money to accounts of clients and non-clients.

Credit products offered by Good Finance

cash

It provides its customers with the best interface in terms of loans and banking processes in general through its mobile application and website, the responses of the processes are almost immediate.

Next, know what credit products you offer to your customers:

  • Microloans: this financial service has been available since 2005, it is fast and reliable access for those users who require access to small amounts of cash from € 25 to € 1,000 with terms from 7 to 90 days. This credit option can be managed from the application or website with complete peace of mind.
  • Plus Loans: mainly available to those customers who have a history of money reimbursement rated as positive. This product offers the opportunity to acquire a higher amount of cash, compared to the previous product, the amount ranges between € 300 and € 5,000. The expiration period corresponds to 24 and 36 months respectively.
  • Credit Limit: it came out in 2013, so far it is one of the most prominent and important products in the group thanks to the flexibility that characterizes it. With this product users can withdraw, reimburse and redesign the amounts of money but within the maximum credit limit allowed according to their cash flow situation in the respective account, normal credit limit equals about € 3,000.
  • Bussines: it is the most suitable option for small businesses in expansion processes, where the requested money is normally used for working capital and bridge financing, the amounts range between € 2,000 and € 100,000.
  • Prime Loans: it was launched in 2017 and is considered the largest loan the group offers, with a maximum amount of € 20,000 and the ease of payment terms of up to 10 years.

Good Finance Micro Loan: A very easy option

Good Finance Micro Loan: A very easy option

Within its banking products and options, it offers the public the possibility of requesting a micro loan, it is called by the financial platform the easiest and fastest option to apply for loans, without any guarantee. Here are some brief features of the service:

  • The minimum amount to request this product is € 50 and the highest is € 700.
  • When requested for the first time, the amounts range between € 50 and € 300 , the second time being the slightly higher limit of about € 700.
  • The requested amounts that are less than € 500, have a maximum payment period of 30 days , to be refunded. While, the amounts over € 500, have a period of 45 days for return.
  • There are a variety of amounts that fit the needs of each of the users.

Credit and Good Finance loans

This financial page applies to its existing and new customers an evaluation using a behavior score card. The evaluation is based on a FICO analysis , studying public records bases, national credit records, statistical databases and public taxes (when these are available), all this in order for the financial entity to make a the task is little easier and faster when it comes to granting a loan to any of its clients.

The media behavior scoring system in recent years resulted in the approval of the loans requested was 14%.

Opinions about Good Finance

Since its inception the company has given much to talk about positively, it is the most popular financial platform in Europe and on other continents in the world.

Many users call that the procedures are transparent and safe, since the levels of security within the platform are quite media and rigorous. Thanks to this, the operations within the application and the website are quite fast and simple, users comment that they perform these operations from the comfort of their home, offices or family outlets through their smartphones and desktops or laptops.

One of the most common opinions on pages and forums is the ease of requesting loans and loans any day of the week 24 hours a day and you get answers to these procedures quickly effectively.

How to apply for a Good Finance micro loan?

The request can be made in two ways:

Via Good Finance on the mobile device, computer or tablet

  • Start the application: locate the main menu tab and select the amount and the deadline to return the requested money.
  • If you are a new customer you must enter personal information such as name, surname, DNI or NIE, mobile phone and email and then make the identification online.
  • In the case of existing customers, you must select the “personal area” and enter the data such as mobile phone and the PIN code of the company that provided you with the first loan.
  • Then click where it says request.

Requirements to apply for a Good Finance micro loan

Requirements to apply for a Good Finance micro loan

This company is the most advanced financial platform in terms of banking technology, the request for its products is made easily and simply, using electronic devices that you can have at home such as smartphones, tablets and computers, apart from that you need :

  • Be over 18 years old and in the case of Spain, reside in the country.
  • Have a mobile number where you will receive notifications and the PIN code.

Are you having a wedding? tips on how to get ready financially!

Your wedding is certainly one of the most defining events of your life. Prepare for an intimate wedding, a small wedding, or a wedding in a country of the Seventh, and in either case, you should make an accurate budget and streamline your spending. With smart planning, you can save a lot on the big day and set it aside for a wonderful honeymoon!

However, if you are unable to keep your planned budget in full, you can benefit from a well-tailored, personalized personal loan plan, so you may want to calculate it eventually. Read on to find out how you can save hundreds of thousands on your wedding with relatively little compromise.

The word “wedding” multiplies prices

You must have already experienced that everything that qualifies as a wedding service, accessories, accessory will sell at a multiple price. It is important to be aware of it, it is worth choosing the simplest of all.

Forget the gold-priced wedding-specific cosmetic treatment, the expensive makeup packages available from 0 to 24 hours: you won’t be able to refresh your makeup in the high season 2-3 times during the big day, or you can do it yourself .

Can your wallet carry the wedding dress of your dreams?

Can your wallet carry the wedding dress of your dreams?

Continuing with the previous line of thought, we also note that you do not always have to choose the most expensive outfit. You can make really beautiful and unique pieces with a seamstress bypassing the high-priced salons, and you can have a fully personalized wedding dress for a fraction of designer dresses.

You should consider whether you are buying at all or satisfied with renting, as you should keep in mind the clothes of your dreams, which can be problematic if you can barely fit in your closet. Why spend a lot of money on something that gets dusted in the basement or attic after a while?

Think carefully about your wedding guest list!

Understandably, you want to share the most beautiful moments of your wedding with the most important guests you care about, but if cost effectiveness is important, you have to draw that line. Count the amount of money you can save by reducing the guest list by 5-10 people: you can save tens of thousands of dollars and recycle it (richer dress, bigger wedding cake, better band, etc.). Try to resist the temptation and the pressure. Indeed, only invite those with whom you have a relationship of trust that justifies their invitation.

You don’t always have goose liver in your wedding menu!

You don

Believe it or not, according to experts, the quality of the food is more important than the specialty of the dishes. Experience has shown that a host of guests remember good tastes and overall impressions, not the specific wedding menu. Therefore, if you do not mind, choose the traditional Hungarian cuisine, which is proportionally available at the best price. If you choose the cuisine and specialties of other nations, be prepared for the price of the wedding menu to increase by thousands of forints. Consideration should also be given to a buffet or meal service.

The latter is much more expensive, since around 10 tables per table. The service providers count on two waiters, and their remuneration significantly increases the price of a given wedding catering package. The buffet, on the other hand, can be creatively decorated with your own hands, cost-effectively, and guests can move a little between meals. In addition, they can mingle and get to know each other better, resulting in a more relaxed atmosphere.