A. M. Although credit cards can be a useful tool, they can also become a source of debt if not used wisely. In El Salvador, more people are looking for ways to keep their budget under control, especially when interest and fees can directly affect the pocketbook.
One of the top financial tips is to pay your statement in full before the due date. Doing so avoids interest charges, which represents significant savings in the long run. It is also recommended not to use the card as an extension of the salary, but as a resource for planned or emergency purchases.
Another useful tip is to take advantage of points or mileage programs, as long as they do not imply additional expenses. Some cards offer benefits such as fuel discounts, accumulation of redeemable points or travel insurance. However, it is important to read the terms and conditions carefully to avoid hidden costs.
In addition, it is advisable to keep a monthly control of the expenses made with the card and to set a personal limit below the available amount. This helps to avoid over-indebtedness and allows for better management of available money.
Finally, comparing cards according to their interest rate, membership fees or additional benefits can make a difference. Not all cards are the same and choosing the right one can generate considerable savings each year.
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