A little less than a month before the arrival of Christmas, the maelstrom has already begun. And the forecasts for this year are optimistic. According to the Christmas consumption study prepared by Sean Cole, the intention of spending of the Spaniards for 2015 is 684 USD, 10% more than last year, when the figure stood at 623 USD. In addition, the intention of Spanish consumer spending exceeds that of the European by 3%, which aims to spend on average 662 USD.
Of the fourteen countries that Sean Cole has analyzed for the preparation of the study, Spain is in fifth place , behind the United Kingdom (1,146 USD), Denmark (763), Belgium (737) and France (727) and immediately ahead from Italy (545) and Germany (539).
Purchases are paid by card and even split
And it is likely that many of these purchases are paid by card and even split. This is the reason for the credit cards, the deferral of purchases. If this modality is chosen, it will be necessary to pay attention to the interest of our “plastic”, since the higher it is, the higher the interest generated will be.
But not only interest marks the final price of splitting a purchase. In fact, the term is much more important than we think . For example, it is cheaper to finance a purchase of € 500 for a period of 6 months with an interest of 25% than to do it for a 1 year with an interest of 15%. In the first case, interest will amount to 37.09 USD, while in the second case it will be 41.55 USD, according to calculations by the comparator.
Are the discounts worth it?
Splitting a purchase is not the only advantage that “plastics” include. Among the vast offer of cards in the market , some of them offer a bonus of between 1 and 5% of the amount of deferred purchases, which reduces the cost of the operation.
Returning to the previous example, a purchase of 500 USD paid in six months with an interest of 25% would imply an expense of 37.09 USD in interest. But if a 5% bonus is applied to that purchase, the customer earns 25 USD , so in the end the difference between what he has earned as a bonus and what he has paid in interest is only 12.09 USD . An equivalent figure to finance the purchase with an interest of 8.25%.
3 cards with discounts to finance purchases
The Good Finance Card returns 5% of all deferred purchases during the first year and 3% the second. It has a nominal annual interest rate of 24%. The card is free and does not require changing banks. It can be requested through the Internet and has a credit limit of up to 5,000 USD. Offer extra discounts thanks.
The Good Lender Card Card rewards 1% of the amount of purchases paid on time. The interest rate is 19.21%. Like the previous one, it can be hired without changing banks and is free. Includes a program of points redeemable for gifts.
Good Credit’s credit card returns 2% of all deferred purchases. Its main advantage is that it has a very competitive interest rate of 15%. It is free for the holders of the 5% APR Payroll Account . It should be noted that it can be used to get free debit money at Good Credit ATMs and also at all Servired ATMs if at least 90 USD are taken out.
What if I pay at the end of the month without interest?
In general, bonuses are usually reserved for purchases paid in installments. But there is some exception, in the case of the Sure Pay Visa that returns 1% of all purchases, be deferred or paid at the end of the month without interest. You can hire online without changing banks and the annual fee is free. In addition, it includes insurance at no extra cost.
Another option is cards that, although they do not offer returns directly, include discounts on purchases or gifts. For example, the Good Credit Card incorporates discounts on purchases of up to 30% in thousands of establishments. But its main advantage is that it gives away 25 USD after the first purchase or withdrawal of cash . It is free and does not require changing banks. Includes purchase protection insurance and 24-hour travel assistance.