Clipping of news on Brazilian Culture, Law and Citizenship
13/07/2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Who ever walked into a store and was met by a salesman who begins to count all the advantages of getting the own credit card the store? These include discounts on tuition, larger installments, payment model expanded in department stores, bookstores and supermarkets. However, care should be taken. Some traps may be hidden in these cards, and the customer is in danger of ending up hurting the pocket.
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A survey conducted by SPC Brazil shows that the total of non-performing Brazilian - borrowers with more than three months late - 43% have debts with the store cards. "Often these facilities offered are not worth, and what is offered has to be thoroughly analyzed. The banks' credit card has very high interest rates, but the stores are even greater, "says the chief economist of the agency, Marcela Kawauti.
This type of card can encourage people to buy more than they can, so consumers should be alert not to do superfluous and unnecessary purchases. "They exaggerate and can not repay the debt, thinking that it's okay when they pay the least. But in fact, pay the minimum amount of the bill means that the consumer just getting a very high debt, "explains economist.
Less requirements, more risks
One of the main attractions of this type of card is that it is made fewer demands on the level of income and the documentation required for membership. The risk that administrators run is included in the high interest charged on this form of credit. In addition, normally, so the consumer makes the request of the card, it is already authorized to shop in the store.
Store cards charge interest built and, in most cases, do not advertise it transparently. If the consumer has these cards into the rotation, he can pay annual interest rates that exceed 600% per year, while the burden on traditional cards are around 200% annually.
If you take all your shopping at a particular store and has plans to continue faithful, may be worth making the card. But in the case of household appliances, for example, it is difficult that someone is accustomed to every week to buy a laptop, TV or refrigerator for the Store discounts are valid. Stay tuned and find consumer protection agencies if any abuse of the stores!
Care before the card
1. Give preference to cards offering slips that can be paid at banks or over the Internet, so you avoid impulse purchases.
2- The clauses are often confused in the contracts. Usually vendors offer the card with ease and the urgency to fill it. So much attention to read the fine print. Ask to take the paperwork home and read. If something seems fishy, go back to the site and ask your questions before taking any decision.
3- If the free annuity promise card, investigate whether the offer is even real or if it is embedded in other fees, such as charging to generate an invoice. The same rule applies to those who offer installment payments without interest. Make sure they are not hidden in other fees before accepting the proposal.
4- Avoid having too many credit cards. With many of them in the portfolio, it may be easier to lose control over the payment of monthly bills.
Source: Jornal do Commercio
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This article was translated by an automatic translation system, and was therefore not reviewed by people.