Having a credit card and being active as a user, you are certainly familiar with the various promos offered by credit cards. It is undeniable that these various attractive offers are one of the main attractions of credit cards, so the demand is getting higher every day. 0% installment is one of the most popular promos and almost all banks offer this one in their credit card products.
In practice, this 0% installment will allow you to spend a certain amount and can pay it off in a fixed amount for the selected installment period without interest. In general, this installment period is between 3 and 24 months.
This 0% installment program is indeed very tempting, especially for those who like shopping. But debt is still debt, where a number of installments that you make with the 0% program will still become a burden in your finances. That is, it is very important to always pay close attention to your financial capabilities when going to use this one program, including understanding well the various conditions applied by the banks in it.
Do not let your goal to save and take advantage of 0% installments actually lead to unnecessary waste and expenditure, just because you are not observant about the various conditions of use.
Understand the Terms Well
Also, make sure to activate your 0% installment program correctly. Most credit card issuing banks require their card users to activate the program via telephone service to the call center. This usually even has to be done within a certain period after the purchase is made, so that the expenditure is processed for 0% installment services.
In some cases, expenditures that are not accompanied by direct reports (requests) in accordance with the time given by the bank will be automatically processed as regular spending and not a 0% program. If you already like this, then you certainly have to pay it off before maturity later, or if you repay it then this expenditure will incur a number of interest.
So, it is important to always pay close attention to this one from the beginning, because it can be fatal and cause losses in your finances.
Adjust to Financial Conditions
As with other spending, this 0% program must also be adjusted to financial conditions. Do not let you experience problems in paying installments, just because you do not do the right calculation from the start.
It is very important to adjust the spending done with your credit card limit, so as not to experience over limit which of course will end with a number of costs.
In addition, the financial ability to pay installments must also be seen properly. Although this installment does not incur a certain amount of interest, you must pay it according to the due date specified by the bank. If you are late, then you will certainly incur a number of interest and also late fees. All of this will certainly be a problem in your finances, right?
Understand and Use Wisely
Using the 0% program can be beneficial if you use it appropriately. Make sure you understand well all the rules related to this program, before you finally decide to use it. Shop wisely and make good use of your credit card program, so that these facilities provide maximum benefits in your finances.