Find out if it's worth paying by credit card
March 24, 2019
Among the facilities offered by banks and financial institutions is the payment of bills with credit card. But is paying a credit card account a good alternative? The service is not free. For each account paid with the credit card, there is a fee, in addition to possible charges (interest and IOF).
Paying for credit card bills can come out too expensive for your pocket. The problem can become even greater when the credit card is seen as the only way out so as not to default. Next, understand how credit card payment works and what alternatives can be used to pay your bills.
How to pay with a credit card account? Understand the operation:
The credit card limit is not exclusive to purchases or withdrawals. The credit card can also be used to pay bills on demand or even installment credit.
The payment of bills on the credit card is an option for those who do not have money and uses the limit available to make such payments. That way, you can increase the time frame and pay bills on the due date of your credit card bill. It’s also a way to focus accounts and payments on a single payout.
Payments for credit card accounts must be made by the due date of the account. However, it is possible to pay some bills after the due date, such as water, energy and telephone.
Payments for credit card bills made over the weekend or holidays are sent the next business day. Monthly and annual interest rates may vary depending on the mode of the card (example: Platinum, Gold).
Check with your card operator to check the features of the service.
Accounts that can be paid by credit card:
- Accounts of a personal nature containing bar codes;
- Credit card invoices from other banks.
Accounts that can not be paid by credit card:
- Credit card invoices from the same bank;
- Accounts of legal entities.
- Third-party accounts;
Charges for payment of credit card bills
In the payment of bills, a fee is charged for each account paid with a credit card (except at the Itaú bank). Values in force in the tariff schedule in March 2018:
Itaú Bank does not have a fee to pay bills using the credit function. However, charges are incurred from the date of payment of the account to the date of payment of your credit card bill.
Assume that the account paid in the credit function has the due date 10 and the credit card is paid on the 30th. In this example, the 20 day period corresponds to the charges for the service.
IOF charge: the tax on payment transactions with credit card accounts is 0.0082% per day, limited to 365 days, and additional 0.38%.
Daily limit for payment of bills with credit card
Banks and financial institutions may stipulate the maximum daily amount for payment of bills and / or the maximum amount of bills that can be paid with the credit card.
The amount of the available limit for the payment of accounts can undergo changes according to the available channels, for example, app and agency can have different limits.
What alternatives to paying bills other than credit card?
Credit card can be a great ally when it comes to balancing your budget, but it is not a good alternative to pay bills, since you have to pay for each operation.
The ideal is to control your debt and keep up with personal finances , to pay the bills even before the due date.
To facilitate, if possible, focus the maturity of your accounts near the receipt of your salary. So when the money goes into the account, the same day or the next day, you can already make the payments. The registration in the automatic debit is an option not to be counting only with the memory.
Now if the problem is not the lack of organization but money, you can apply for a personal loan to pay bills instead of using the credit card.
For those who are in the red, personal loan is the best alternative not only for paying bills, but also to balance the budget and stay in the blue.
Good right? Do not waste more time: ask for your personal loan and stop paying abusive credit card fees today!