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Profitable Credit Card Facilities for Employees

What credit card facilities do you like the most? What is the biggest discount or bonus you have ever received from a credit card? Share your experience with comments, who knows you are the luckiest person.

Having a job as an employee means you rely on income only from bonuses and salaries every month. Increased needs are of course often a financial obstacle for employees. Not to mention business trips that are costly and sometimes companies need time to compensate your official expenses. This is where you have to be more careful and use a credit card as a financial solution.

Credit cards have a temporary bailout system. As you know, when you use it you don’t need to spend funds from your own account. Then at the end of the period, you are responsible for paying the entire bill ( full payment ). Of course for an employee, a credit card will greatly facilitate your life, because hotel reservations, purchasing transportation tickets, consumption and becoming much easier. The following credit card facilities that benefit you:

 

Discount

Discount

Of course you often find restaurants that have discounted signboards using Bank A, or Bank B credit cards with each different piece. You also often spend time outside the office, whether it’s for lunch or meeting with clients. With a discount promo at a restaurant or cafe, you can save on consumption expenses. Not bad?

In addition to eating places, banks also often work with shopping centers to hold discounted discounts. So in addition to saving on consumption expenses, you can satisfy your shopping desires without worrying about spending too much money. Even this discount promo also applies to airplane tickets or other transportation. Of course this promo will save on business travel.

 

Installments 0%

Installments 0%

For an employee, it is natural to have a mediocre salary, but of course you still need equipment to support a career, such as a gadget , smartphone or tablet. As you know the price of these devices is not cheap, it can be the same as 1-3 months salary. With a credit card, you will get a 0% installment facility. So you can buy these items and get paid in installments without interest.

 

Cashback

Cashback is a facility of returning cash after using a credit card for payment. Cashback is similar to a discount, only at a discount, the discount is valid in front (when you are going to purchase goods). On cashback, the discount is valid behind (after a purchase transaction). For example, there is a watch purchase promo worth Rp. 1 million with cashback of Rp. 100 thousand, which means you have to pay Rp. 1 million and then give cashback in the form of a voucher or discount in the first installment of Rp. 100,000.

 

Points

reward Points

Reward points are points that you collect every time you shop using a credit card. These points usually differ from 1 bank to another bank, there are IDR 1,000 = 1 point, or IDR 2,500 = 1 point and not all of your purchases get points. Then, the benefit of these points rewards is that you can exchange them for bonuses or money.

With reward points, you don’t need to be confused to choose where to eat. You can choose places to eat that can be paid using points or reward extra points.

 

Free promotion

Free promotion

Usually, banks also offer 1 free buy promo 1 or buy 1 free 1, this promo can be used to save your expenses. You can also use a free promo to treat work colleagues. There is nothing wrong with doing good for others, while not damaging our finances.

 

Things to remember in using a credit card

As employees with a fixed salary, you should avoid yourself from financial conditions that are not healthy due to the use of credit cards. Some things you must remember if you want to use a credit card are:

  1. Pay the maximum amount and on time
  2. Always pay attention to fees or fines imposed by the bank
  3. Manage your expenses so that they are not wasteful
  4. Do not use a credit card beyond the maximum usage limit

 

Credit cards are one of the facilities offered by banks that can be very profitable if you use them wisely. As an employee, maximize all facilities offered by a credit card to reduce spending or simplify your work. Also don’t forget to pay credit card bills on time. So, remember to always be up to date with promotions offered by banks.

What credit card facilities do you like the most? The biggest bonus like what you ever got from a credit card? Share your experience by commenting.

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What do cars without insurance, drive around the street?

According to the National Unique Traffic Registry (Runt), 41% of cars in Colombia circulate without insurance and these are the strategies they use to do so.

Compulsory Traffic Accident insurance 

car loan

Mandatory to drive through the streets of the country, but despite this, again this year it was found that a large number of cars circulates without having purchased one.

The punishment for not having an insurance or circulating with one that is already defeated or false, is to become a fine, but that does not seem to intimidate drivers.

How, then, do they circulate on the street without being arrested? Typically, they use two types of strategies to get their way.

First, many of them buy fake insurance

car loan

It is true that many times drivers are scammed, but other times they themselves know that they are acquiring a product that is not the real one, but since it is at a lower price and allows them to move along the road without problems, they decide to buy it.

Second, they seek everything to evade the authorities. If a police officer comes to stop him, they would fine him when he finds that he does not have insurance, which is why they make every possible effort not to cross them.

However, none of these measures is infallible

However, none of these measures is infallible

If you are from the group that does not already have insurance, remember that this insurance allows you to attend to the victims of traffic accidents and, on the other hand, that they grant you a fine and immobilize your car, not only damages your finances, It also implies a waste of time.

Finally, despite the fact that insurance has the same price in all insurers, each entity seeks to offer different additional benefits to attract customers. Before choosing your insurance, take a few minutes to compare the alternatives, using web comparators such as Macbeth’s.

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Advance payments: This is what you earn by reducing your credit term

credit payment

When you receive a bonus, win a prize or simply realize that you have more cash than you thought, it is normal to start thinking about how to spend it. However, a wiser option will always be to pay the debts you have, especially in a scenario where interest rates have not stopped rising and it is becoming much easier to fall into default.

If you finally decide to allocate the money to pay off your debts, a good way to do it is by choosing the one that has the highest interest rate and highest amount of insurance or commissions from the financial entity, since it is the one that most expensive is coming out.

 

When making an advance payment

advance payment

You should not only know that you can no longer be charged a fine or punishment, but that you have several options. One of them has to do with reducing the credit term; another, with the reduction of the monthly fee; and another with the suspension of payments for a certain time.

Many people opt for the option to reduce monthly fees, so that their budget is more comfortable; However, the money you save rarely uses it in something productive, but ends up adding it to the cash you have available.

 

The term reduction option presents an interesting dynamic

The term reduction option presents an interesting dynamic

Since by reducing the term, it reduces the number of outstanding installments, so it is saving interest and also the insurance and other commissions that the bank can charge monthly. In addition, month by month the savings will be equal to the total amount of the fee, and that way you can use the money to cancel other debts or allocate it to a savings account that pays you interest for that money.

Find out and think well what option you will request, but always remember that if you have debts to pay, it is better to use the extra money for that and not stop buying more things.

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 What is mortgage interest? | Mortgage Loans

Financial issues are quite complicated for many consumers. Not every Dutch person has an economics or maths knot. Yet some knowledge of money matters is actually indispensable. Whoever submits his tax return will undoubtedly agree.

Especially for homeowners and for consumers who are considering buying a (first) home it is therefore important that attention is paid to a subject that homeowners will be confronted with anyway. That subject is the mortgage interest. And we already reveal it: the ‘notorious’ mortgage interest deduction is also discussed.

Mortgage interest: what is it?

Mortgage interest: what is it?

Mortgage interest in itself is still fairly uncluttered and also understandable for people who are not financial specialists. This interest can basically be compared fairly well with the ‘normal’ interest as we know it with a personal loan or revolving credit.

Where it becomes a bit more complicated is at the point where the different tariff groups come in. With a mortgage it can be very good that the amount of your mortgage is as high as that of your neighbor while you have to pay more interest (or less) than he does.

Mortgage interest and rate groups

Mortgage interest and rate groups

The different rate groups therefore influence the level of the mortgage interest rate. But what the hell is that? This is largely due to the risk of a certain mortgage. Here too, mortgage interest can easily be compared with other types of loans: the greater the risk, the higher the interest.

With regard to a mortgage, the risk revolves around the relationship between the home value and the mortgage amount. This ratio is also referred to as the ‘Loan to Value’ (LTV). The higher the LTV, the higher the interest rate of the mortgage. The LTV in combination with the fixed-rate period (variable is also possible) determines in which rate group you end up.

Mortgage interest deduction

Mortgage interest deduction

When it comes to mortgage interest, the mortgage interest deduction is usually also included in the same breath. How does that work anyway? The mortgage interest deduction is a scheme that makes it more favorable to buy your own house. This works as follows.

You may deduct the interest that you pay from your income on your tax return (Box 1). Of course, your income will be lower thanks to the deduction, which means that you will have to pay less tax to the government.

That it is therefore favorable to buy your own house with this scheme is a fact. Incidentally, that the government collects less tax (and therefore often discusses the mortgage interest deduction).