Your credit card balance is the amount of fees you owe to your credit card company. It is the accumulated amount that you have borrowed but not yet paid back. Every purchase, balance transfer, and cash advance you make increases your credit card balance. Fees and interest also increase your credit card balance. On the other hand, payments and returns all reduce your credit card balance. Your credit card balance may also be negative if you overpaid your credit card or had a credit credited to your account after you paid your balance in full. It is important to be careful about your credit card balance so that you don't let it get out of control and keep it at a reasonable level (or fully paid).
Borrowing money can be done in various ways, by taking out a credit or, for example, paying with a credit card. The latter is increasing considerably, more and more people are using their credit card. They also do this regularly without the credit facility, it is mainly the convenience of a card compared to cash that turns out to be appealing. However, borrowing money via the credit card is also an interesting option, as it is usually easier than taking out a credit with a bank or other lender.
More payments by credit cardThere are more payments per credit card, something that seems to have several reasons. For example, the average monthly amount in 2008 was The developments that Best Bank recently observed show, for example, that we spend more on average with our credit card. $ 139, now it is $ $ 163 to $ 222.179. Furthermore, with the Best Bank Value Card this even increased from Moreover, we now use our credit card around 2.8 times a month, whereas it used to be 1.6 times. The use of the Value Card increased from 4.9 to 5.6x per month. This indicates that there is an increase across the board. This seems to be partly due to the fact that we use our credit card more easily to pay small amounts. After all, the average transaction amount has fallen from $ 83 in 2008 to $ 69 in 2015. In that respect, spending per spending is declining, but the greater number of payments with the credit card means that we are going to pay more with our cards across the board. Remarkably, we do not only use the credit card to borrow money. In addition, there are many people who use the card to pay more easily, without having to take out a credit for it. Compared to 2013, 5% fewer people use the credit facility, they can transfer the costs directly and therefore do not have to borrow money for the purchases they make.
Contactless payment with the credit cardFinally, it is striking that more and more Belgians use contactless payment. This makes it possible to keep the credit card close to the payment terminal. That is enough to pay, it is not necessary to put the pass in the payment device. Depending on the amount, it is necessary to enter a pin code with the credit card.
When opening a line of financing through a loan, it is highly recommended to do so before a notary. In this way it is recorded that the loan has been made with the consent of both parties, offering the necessary security and legal guarantees. In fact, all banks register their loans before a notary, be they personal loans, mortgages and lines of financing of any kind. Finance institution acts in the same way: offering loans with Financial credit institution insurance and guarantees for both lenders and borrowers.